“…nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.”
The statement above was taken directly from the fifth amendment of the United States Bill of Rights. Is this amendment still followed and cherished today or is it merely a statement on a sheet of paper?
How is it that local, state, and federal entities regulate your property to a point where it has no value? If you are seeking proof of these “regulatory takings”, take a look at the videos posted below. Regulatory takings can also be looked at as property being taken for “public use.” Hypothetically, lets say you own a piece of property that has a market value of $100,000 before government regulation. Lets say it is later determined that you have an endangered species that lives on your property. The government will now force you to not build on the your property leaving your property with a market value of $0.
I would argue that protecting the endangered species that is on your property should be considered “public use.” In this case, the government would have to compensate you for the “public use” of your property, which, in the instance above, would amount to $100,000.
These stories happen all the time whether it be done by zoning regulation, endangered species, wetlands, or any other regulation…
