Is Fair Market Value Just Compensation? An Underlying Issue Surfaced in Kelo

Eminent Domain Use and Abuse: Kelo in Context (Dwight Merriam & Mary Massaron Ross, eds., ABA 2006)

University of Hawai’i Richardson School of Law Research Paper No. 3259659

28 Pages Posted: 11 Oct 2018

See all articles by Shelley Ross Saxer

Shelley Ross Saxer

Pepperdine University School of Law

David L. Callies

University of Hawaii at Manoa - William S. Richardson School of Law

Date Written: 2006

Abstract

This chapter explores how just compensation is determined when redevelopment projects utilize eminent domain for land assembly. It begins by looking at the general rule of valuation and its application in four different cases. It next addresses two major concerns that arise when the fundamental rule is applied: 1) precondemnation government action may unfairly diminish the landowner’s eventual compensation; and 2) the fair market value measure of compensation may not make the property owner whole. Finally, this chapter examines what components are taken into account when valuing property that is being condemned to facilitate economic development by private entities and whether some type of premium can be awarded when “A is losing property for the economic benefit of B.”

Keywords: eminent domain, Kelo, New London, just compensation, land valuation, fair market value, economic development

Suggested Citation

Saxer, Shelley Ross and Callies, David L., Is Fair Market Value Just Compensation? An Underlying Issue Surfaced in Kelo (2006). Eminent Domain Use and Abuse: Kelo in Context (Dwight Merriam & Mary Massaron Ross, eds., ABA 2006); University of Hawai’i Richardson School of Law Research Paper No. 3259659. Available at SSRN: https://ssrn.com/abstract=3259659

Shelley Ross Saxer (Contact Author)

Pepperdine University School of Law ( email )

24255 Pacific Coast Highway
Malibu, CA 90263
United States

David L. Callies

University of Hawaii at Manoa - William S. Richardson School of Law ( email )

2515 Dole Street
Honolulu, HI 96822-2350
United States

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