Eminent Domain As Price Control
In addition to abusing eminent domain to take land from private parties to give to other private parties (which violates the constitutional criteria of public use), some governments try to use it to get an unfair price (so much for just compensation):
Capital Improvement Board members said Monday that the city has failed to negotiate a price with the current owner. The property is listed on a real-estate Internet site for $10 million.
“What we’re really talking about is a disagreement over its value,” said board President Fred Glass.
Other board members said the price was “two or three times” what the city is offering. Under eminent domain, the city can take the property and pay a value assigned by a third-party appraiser.
