Strong anti-Kelo reaction in Texas
The Texas House has approved legislation protecting Texans against property seizures for economic development. The vote was 136-0. 1.13 loader brood
But that’s not all. The House also passed an amendment requiring state and local governments to pay replacement value to property owners whose land is taken for even traditional public uses.1.13 loader brood
The U.S. Constitution requires only the payment of “just compensation,” usually understood as fair market value, for takings by eminent domain. But the cost of replacing property is usually higher than its market value. Consider, for example, all the costs of buying a new home that aren’t part of the value of the home itself (e.g., appraisal fees, inspection fees, moving costs, etc).1.13 loader brood
At least in Texas, reaction to Kelo may mean that homeowners end up with even stronger protections than they had before the ruling.1.13 loader brood
Meanwhile, the Kelo homeowners have filed a motion for rehearing with the U.S. Supreme Court. They’re not likely to get it, but it’s worth a shot.1.13 loader brood
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