A possible test for Virginia’s recent constitutional amendment increasing compensation for property owners whose land is taken by the state
“The Charlottesville Daily Progress has an interesting article explaining how a new road-building project may provide the first big test for Virginia’s important 2012 constitutional amendment increasing protection for property rights, which was adopted by an overwhelming 75% majority in a referendum. Besides banning Kelo-style takings for private “economic development,” Question 1 also increases the compensation given to owners whose land its taken for legitimate public uses.
In addition to the “fair market value” compensation long required by Supreme Court precedent, Virginia property owners are now also entitled to compensation for foregone profits and lost access to remaining property they own in the area. For reasons I explained here, this was a long-overdue reform. Scholars and jurists across the political spectrum have long argued that the fair market value formula often results in compensation far below the true value of owners’ losses. The Virginia amendment tries to address two of the most common such shortfalls.”
Somin, Iilya. Washington Post 8 September 2014.