Land Use & Zoning
A 'taking' in Pennsylvania eminent domain law requires the condemning authority to pay 'just compensation.' For a partial taking, just compensation includes:
AOnly the value of the portion taken
BThe value of the portion taken plus any severance damage to the remainder✓ Correct
CThe average of before and after values divided by two
DOnly the replacement cost of structures demolished
Explanation
For a partial taking in Pennsylvania, just compensation equals: (1) the fair market value of the property taken, plus (2) severance damages to the remainder caused by the taking and the proposed use (such as reduced access, changed shape, or proximity to a highway). The remainder's value before and after determines total compensation.
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Key Terms to Know
Eminent Domain
The power of government to take private property for public use, with the requirement to pay the owner just compensation.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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