Determining Your Property’s Value is Key During Eminent Domain Proceedings

November 12th, 2015

The law allows federal, state, and local governments to involuntarily seize private property from an owner if the land is being used to benefit the community in some way. While there often isn’t much that can be done to prevent property from being taken through eminent domain laws, the North Carolina land condemnation lawyers at HensonFuerst explain it’s important for landowners to know they must be fairly compensated for their property.

Determining what your property is worth is a complex process, which can often lead to disputes between landowners and those who are utilizing land condemnation proceedings to gain control of a property. Take the case of a woman in Hillsborough, North Carolina, who is currently entangled in a battle with local officials after they recently voted to begin efforts to purchase the historic Colonial Inn.

The current owner bought the property at 153 King Street at auction for $410,000. Tax documents appraise the Colonial Inn’s current value at $600,000; however, a report from chapelboro.com explains Hillsborough town leaders believe the property is only worth $143,000—merely the value of the land the historic hotel sits on.

There are many factors that play a role in appraising how much a property is worth for the purposes of land condemnation. The legal staff at HensonFuerst encourages you to take a look at our website to learn more about how the value of your property is determined, as well as what you should do if you find yourself facing legal proceedings stemming from the seizure of your land for public use.