Land Use & Zoning
In South Carolina, what is a 'regulatory taking' versus a 'physical taking' in constitutional law?
AThey are the same thing
BA physical taking involves actual government occupation; a regulatory taking is when government regulation goes so far as to deprive the owner of all economically viable use✓ Correct
CRegulatory takings only apply to commercial properties
DPhysical takings do not require compensation in South Carolina
Explanation
A physical taking is when the government actually occupies or destroys property (requires just compensation). A regulatory taking is when government regulation is so restrictive that it effectively takes the property's value.
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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.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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