Private Property and Takings Compensation
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Private Property and Takings Compensation

Theoretical Framework and Empirical Analysis

Yun-chien Chang

This innovative volume offers a thorough breakdown of the issues surrounding takings compensation – payments made as reimbursement for government takeover of private property. Using examples from New York City and Taiwan, Yun-chien Chang discusses the advantages and disadvantages of different methods of compensation and offers insightful suggestions for future implementation.
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Chapter 8: Adjudicated compensation in New York City and the failure of appraisal methods

Yun-chien Chang

Extract

This chapter examines whether adjudicated (rather than settled) compensation in New York City between 1990 and 2003 approximates fair market value of the condemned property. Using information revealed by court opinions, this chapter further demonstrates that the assessment methods used by appraisers are problematic. For an overview of takings law in New York City, see Chapter 7.

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