Concerns valuation of property condemned for dune construction or beach replenishment.
Impact
If enacted, S466 would significantly alter how property value is assessed in the context of public projects related to coastal safety and environmental resilience. By mandating that the compensation reflects the increased value due to improved safety, the bill may lead to a more positive outlook for property owners whose land is affected by such projects. The provisions regarding public access additionally clarify that these rights should not detract from property values, potentially encouraging more investment in coastal infrastructure improvements.
Summary
Senate Bill S466 addresses the valuation of property that is condemned for the purpose of dune construction or beach replenishment. The bill aims to ensure that just compensation for property owners includes consideration of the increase in value stemming from the enhanced safety and protection provided by either the dunes or replenished beaches. This measure is intended to clarify compensation norms under the existing Eminent Domain Act, which dates back to 1971, ensuring that property owners receive fair treatment when their land is appropriated for public purposes.
Contention
There could be points of contention regarding what constitutes a fair evaluation of the property's increased value, as homeowners and evaluators may differ in opinion. Critics might argue that such valuations may still not account for personal experiences or perceptions of value that property owners hold, particularly in the face of increased public access to their properties. Additionally, the balance between public interest and private property rights could stir up debate among stakeholders, including residents affected by coastal projects and governmental bodies responsible for enforcing the law.
Requires "just compensation" for condemnation of single-family residence to be based on cost of comparable relocation properties within 20 mile radius.
Prohibits condemnation of farmland actively supporting agricultural or horticultural production for purpose other than agricultural or horticultural production.