Friday, December 02, 2005
More on Property RightsBizzy Blog has a property rights update that includes news about a New Jersey case that shows how topsy-turvy government policies can be.
In this case, rather than take property and transfer it to another entity for a more lucrative economic purpose, the government reversed the equation, taking an $833,000 home and farmland to build low- and moderate-income housing. Then it tried to stiff the family, paying them substantially less than fair market value for the property.
The court has now ruled on the compensation question; Bizzy has the resolution.
Posted by Amy Ridenour at 12:46 AM