The State Senate has decided that those who seize private property through eminent domain should pay a premium. It’s given preliminary approval to one of the major bills before the Legislature this year. Courts usually require payment of a “fair market value” price in property condemnation. But Senator Chris Koster, the Senate sponsor, says that’s not enough. His bill, which could go to the House today, requires payment of 125 percent of fair maket value. And if the property is considered heritage property – something that’s been in a family for a long time – the payment would be 150-percent.
Related web sites:
Missouri HB 1944