Florida prepares for eminent domain restrictions

The Sunshine State received hot news in the property investment industry lately. Voting citizens in sunny Florida are gearing up for a ballot on November 7 that should strengthen the property rights of citizens against the use by local and state authorities of eminent domain (compulsory purchase) legislation.

The bill will need the use of eminent domain for the transfer of property to private developers to be approved in each individual case by three-fifths of each house of the Florida State Legislature. If passed, the bill will become an Eighth Amendment to the state’s constitution “Protection of people’s personal property is a fundamental right,” says State Senator Burt Saunders. According the senator, it’s the kind of thing that should be in the state constitution.

A pressing issue in US politics since a Supreme Court ruling last year, the eminent domain paved the way for the use of the legislation to seize property in cases where redevelopment would result in bigger tax revenues for local governments because in most cases, new properties and developments have greater tax liabilities. There had been fears that local governments can now appropriate private property at will. In the past, the option had been used only for the development of roads, reservoirs, power stations and other public works.

The Floridian amendment, which is expected to pass with a substantial majority vote, will bring good news to thousands of British homeowners in Florida. While the use of eminent domain in the kind of neighborhoods preferred by British property buyers has always been considered unlikely, the safeguards almost certain to be enshrined in state law will go a long way to removing any doubt or uncertainty about investment security in the well-loved hotspot.

Posted on: Florida

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Florida prepares for eminent domain restrictions

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