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For many landowners, their property is their most prized asset. It may not only be the most valuable thing they own, but they may also have built a life, home, or a career around their property. For these reasons and more, many property owners believe their land is worth a significant amount.
However, you need to know the true value of your land if the government or another entity wants to take part or all your property for a public project such as a hospital, park, highway, and utilities, among many others. In some situations, landowners may agree to receive compensation for their land. In other situations, a property owner may not reach an agreement because she believes her land is worth more than the government is willing to pay. In such cases, the government may file an eminent domain action in court to gain legal permission to take the land.
The school board in Kokomo, Indiana, has plans to expand and renovate its elementary school. The expansion is planned to convert the playground and parking lots previously used by the school, which requires a new green space where the students can play outside. The new green space needs the private property that sits adjacent to the school.
Reports indicate that the school district has been unable to agree on a price with the landowner, and the case has gone to court. A representative for the district stated the district will offer $110,000. The local assessor’s office values the land at $111,000. The landowner has refused all previous offers because he believes his land is worth more to the district than any of the offers. If the property owner again refuses the school district’s offer, the court will determine the amount to be paid for the property.
Whether you are involved in initial negotiations or you have had an action filed for your land in court, you should know that you must demonstrate your land’s true value. There are different ways of proving just compensation, making it important to have an experienced attorney on your side who understands how to protect your rights and fight for the full compensation you deserve.
At the law office of Sever Storey, our legal team has extensive knowledge regarding condemnation actions and negotiations. We have handled a wide variety of eminent domain cases ranging from farmland to businesses to family homes. We recognize how important your land is to you and we respect how much personal value it holds. We have the law on our side to protect your rights, so please do not hesitate to call our office at 888-318-3761 or contact us online for more information.
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