523.039. Just compensation for condemned property, amount.
Just compensation for condemned property, amount.
523.039. In all condemnation proceedings filed after December 31,2006, just compensation for condemned property shall be determined underone of the three following subdivisions, whichever yields the highestcompensation, as applicable to the particular type of property and taking:
(1) An amount equivalent to the fair market value of such property;
(2) For condemnations that result in a homestead taking, an amountequivalent to the fair market value of such property multiplied by onehundred twenty-five percent; or
(3) For condemnations of property that result in any taking thatprevents the owner from utilizing property in substantially the same manneras it was currently being utilized on the day of the taking and involvingproperty owned within the same family for fifty or more years, an amountequivalent to the sum of the fair market value and heritage value. For thepurposes of this subdivision, family ownership of property may beestablished through evidence of ownership by children, grandchildren,siblings, or nephews or nieces of the family member owning the propertyfifty years prior to the taking; and in addition, may be establishedthrough marriage or adoption by such family members. If any entity ownsthe real property, members of the family shall have an ownership interestin more than fifty percent of the entity in order to be within the familyline of ownership for the purposes of this subdivision. The property ownershall have the burden of proving to the commissioners or jury that theproperty has been owned within the same family for fifty or more years.
(L. 2006 H.B. 1944)