Compare the efficiency of the following two methods of amending the just-compensation constraint: a. Define just compensation

Question:

Compare the efficiency of the following two methods of amending the just-compensation constraint:
a. Define just compensation to be fair market value (including relocation costs) plus, say, 20 percent.
b. Allow private property owners to make their own assessments of the value of their property. Property owners agree to pay property taxes on that self-assessed value. If the government ever takes the property, it agrees to pay the self-assessed property value as just compensation.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Law and economics

ISBN: 978-0132540650

6th Edition

Authors: Robert cooter, Thomas ulen

Question Posted: