Eminent domain
"Following the decision, many of the plaintiffs expressed an intent to find other means by which they could continue contesting the seizure of their homes. However, the Supreme Court having disposed of the eminent domain issue, the only legal avenue left to Kelo and her fellow residents may be to contest the fairness of the amount that the city intends to pay for the land-the city has reportedly set aside $1.6 million to buy all 15 homes, and city officials believe that they will be in possession of the property within a few months.[2] Soon after the decision, city officials announced plans to charge the residents of the homes for back rent for the five years since condemnation procedures began. The city contends that the residents have been on city property for those five years and owe tens of thousands of dollars of rent."
So what is the fair market value of a house taken by eminent domain, after you try to fight for your ownership rights.....
$71,000
The math: Assuming all properties are about equal in value....
$107,000 to the home owner's. Not quite fair market value, but those are based on market values in 2000, not 2005, likely they would be much closer to 300k now. So citizens are screwed once.
On to back rent... well I found this quote:
"They have sent us eviction letters and have given us 90 days to vacate," homeowner Michael Cristofaro told WND. "As further insult to injury, they are requiring us to send them $600-a-month rent"
So I'll multiply that times 60(5 years of rent)=$36,000
So the grand total is $71,000. Good luck finding a double-wide for that amount. That's assuming there are no late fees... I'm sure they'll try to add those on, likely bringing the payout down to around 50k. I'd like to thank the wonderful supreme court for this.
So what is the fair market value of a house taken by eminent domain, after you try to fight for your ownership rights.....
$71,000
The math: Assuming all properties are about equal in value....
$107,000 to the home owner's. Not quite fair market value, but those are based on market values in 2000, not 2005, likely they would be much closer to 300k now. So citizens are screwed once.
On to back rent... well I found this quote:
"They have sent us eviction letters and have given us 90 days to vacate," homeowner Michael Cristofaro told WND. "As further insult to injury, they are requiring us to send them $600-a-month rent"
So I'll multiply that times 60(5 years of rent)=$36,000
So the grand total is $71,000. Good luck finding a double-wide for that amount. That's assuming there are no late fees... I'm sure they'll try to add those on, likely bringing the payout down to around 50k. I'd like to thank the wonderful supreme court for this.