Real Estate & Property Law

How to Rough Up Owners

By Alan Ackerman

Colorado Springs utilities want to acquire land for a water line easement.  The Colorado Springs Independent makes it seem that landowners are holding out for far too much money. However, the paper relies on assessed value, which frequently has no relationship to fair market value. Assessed value does not consider a partial easement's effect on the remainder of the property. Rather than make blanket assumptions, each individual case needs to be reviewed. 

Colorado Springs Independent 

Last fall, the Council authorized the use of eminent domain to acquire properties or property interests based on earlier actions that rules the pipeline project benefits the public health, safety and welfare and that it's needed for an essential public water system.

The memo says some landowners aren't cooperating for unknown reasons, but some don't want to sell because they oppose the project. One landowner demanded triple the land property value, another asked for 350 percent of the value. Still another demanded 1200 percent of fair market value.

Full post as published by National Eminent Domain Blog on January 25, 2011 (boomark / email).