Saturday, July 02, 2005
Fair Market Value
Some fogged up fellow thinks eminent domain seizures involve the payment of "fair market value" to the person whose property was taken. What rubbish. There is no meaning whatsoever to "fair market value" except what someone will willingly exchange, and eminent domain is only used when the owner is not willing to sell at the state's price, i.e., the seizee never gets fair market value.