Connecticut Senate Bill SB00444

Connecticut 2020 Regular Session

• Introduced: 3/6/20
• Refer: 3/6/20

Caption

An Act Concerning Compensation Paid To A Property Owner Whose Real Property Is To Be Acquired By Eminent Domain.

Impact

The guiding principle of the bill is to determine the compensation amount for properties acquired via eminent domain at one hundred twenty-five percent of the average value of the two independent appraisals. This novel approach aims to protect property owners and guarantee that they receive fair compensation that exceeds the typical market value assessed. The shift to requiring two appraisals, with a definitive formula for calculating compensation, is likely to impact existing state laws regarding property acquisition and compensation directly.

Summary

SB00444, titled 'An Act Concerning Compensation Paid To A Property Owner Whose Real Property Is To Be Acquired By Eminent Domain', introduces new stipulations regarding the compensation that property owners receive when their property is acquired by the state through eminent domain. The bill mandates that two independent appraisals be conducted for any property taken under eminent domain. These appraisals will be carried out by state-certified real estate appraisers, ensuring no consultation occurs between the two appraisers.

Contention

While the bill is designed to enhance fairness in eminent domain proceedings, it may provoke debate surrounding its implications on state agencies and departments involved in property acquisition. Some stakeholders may argue that the additional appraisal requirement could prolong the acquisition process and introduce higher costs for the state. Furthermore, the potential increase in compensation may lead to budgetary concerns for public projects that rely on land acquisition, thereby potentially limiting their feasibility.