Quote:
Originally Posted by electricron
Most of those western movies were based on fiction, not historic facts.
You also have no idea how the State of Texas handles eminent domain cases.
Local State Districts Courts will determine the fair value for the land being taken if the two parties can not reach an agreement.
Some rich landowners will delay and take their cases to court, but most landowners will settle upon an agreed fair price. And in most cases, the agreed fair price will be based upon what similar lands have been sold at in recent years, just like any other real estate deal.
No land owner will get ripped off, and neither would Texas Central.
The larger rip off in real estate is the government acquiring your land if you fail to pay your taxes, then selling it off to whatever the highest bidder is that day.
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I actually do know all of that. I disagree that it's an "agreed" price as an owner of property that is being seized by eminent domain has no leverage. If they don't "agree", then what?
My point is that the fair market value of land surrounding stations will increase massively after a station is planned and the "railroad" will have bought the station land and surrounding land on the cheap. I have no concern about the bits through private land that aren't near a station.