Plain English Breakdown
The official source material does not provide specific details on how the bill will handle cases where appraisal costs exceed the new limits or its impact on existing eminent domain threats.
Eminent Domain: Appraisals and Compensation
This law changes the maximum amount a public entity must pay for an independent property appraisal when it wants to take private land, increasing it from $5,000 to $8,000 for total acquisition and up to $15,000 for partial takings.
What This Bill Does
- Increases the maximum amount a public entity must pay for an independent property appraisal from $5,000 to $8,000 if they want to take all of someone's property.
- Sets a new limit of up to $15,000 for appraisals when only part of someone’s property is taken by the government.
Who It Names or Affects
- Property owners who face eminent domain actions from public entities.
- Public entities that want to take private land for public use.
Terms To Know
- Eminent Domain
- The power of the government to take private property for public use, with compensation to the owner.
- Appraisal
- An estimate of a property's value made by a professional appraiser.
Limits and Unknowns
- The bill does not specify what happens if an appraisal costs more than the new limits set.
- It is unclear how this change will affect current cases where eminent domain has already been threatened but not finalized.