So dropping the worth of one lot from $400,000 to $40,000 isn’t a taking.
And the market value they’re talking about is after devaluation due to the ‘new’ rules.
“So dropping the worth of one lot from $400,000 to $40,000 isn’t a taking.”
It was never worth $400,000.
“And the market value they’re talking about is after devaluation due to the ‘new’ rules.”
The ‘new’ rules were put in place over 30 years ago! Besides, the ‘new’ rules probably increased the value of the improved lot and the value of the two lots considered together.
“So dropping the worth of one lot from $400,000 to $40,000 isn’t a taking.”
They can sell the two similar lots together for almost $700k. The building is almost worthless.
“So dropping the worth of one lot from $400,000 to $40,000 isn’t a taking.”
The developed lot was appraised for about $370k. The value of both together was appraised to be almost $700k.
Both lots are very similar. That means the second lot if sold with the first would be about $330k. At least according to the dude’s appraiser.