JDPriestly
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Fri Oct-22-10 08:49 PM
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Could cities take properties under their right to eminent domain in depressed |
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areas that have been blighted by numerous foreclosures? Seems to me they could provided that they pay just compensation determined by a court and by comparable values of similar homes on the market. They could then resell those properties to private interests (citizens) for redevelopment.
I thinking of places like Detroit and areas in California that have a lot of empty housing.
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leftstreet
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Fri Oct-22-10 08:55 PM
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1. A gazillion square foot mansion ALSO has a lot of 'empty housing' |
tularetom
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Fri Oct-22-10 08:57 PM
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2. They can take them for unpaid property taxes with less effort |
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If somebody walks away from a piece of property they will generally stop paying taxes on it. After a certain period of time (5 yrs here in CA), and the proper posting and public notice the city or county can sell the property to recoup the lost property taxes.
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DU
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Thu Apr 25th 2024, 08:32 PM
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