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How the government values property

On Behalf of | Feb 3, 2021 | Eminent Domain |

As cities and towns across the state of New Jersey begin to grow in population, so does the need for additional water lines, roads and highways. These additions will often lead city governments to expand into areas already owned by private citizens. Although the government may use private land to expand city services, they must also provide the original owners with a fair offer. But what exactly goes into valuing property that the government plans to use? Read on to learn about how you can make sure that your land offer is accurate and fair.

How governments take property

As a private owner, you do have the luxury of hearing about potential expansion before it happens, thus helping you get ahead of the valuation process. City/state governments will publicly discuss plans to expand with a number of options as potential locations. Once the government chooses a location, they will then work with an appraiser to provide a value on the property.

Challenging eminent domain

If you agree on the city’s offer on your real estate property, then great, and everyone moves on. However, if you believe that their offer is not true to the current market, you do have the right to challenge the eminent domain and go into condemnation proceedings.

During this case, your attorney and appraiser will work together to determine the true value of your property, as well as how much land can actually be taken by the government. However, if the government can prove that the use of the land is proper, it is likely that your challenge will fail.

Valuation of your property

If you have failed at your attempt to stop the taking of your land, then it is now time to focus on how your land is being valued. There are a number of factors that governments take into consideration when valuing the property. For example, if they choose land with no structures, natural obstructions or hazards, then the valuation may be pretty straightforward. However, in the end, governments are likely to stick with the market value already on the books.

Having the government take your land is never an easy thing to go through. That is why you may want to hire an attorney. An experienced attorney may provide you with legal advice that could protect you from further intrusions by the government.