FDOT v. Client – Interchange Property
FDOT’s Initial Opinion of Value: $194,500
Jury Verdict: $765,635
Comments: The testimony of the property owner was a value of $765,635.
This eminent domain case involved a whole taking, or the acquisition of the landowner’s entire property. The primary issue in the case rested on the reasonable probability of rezoning. Florida law and appraisal practice recognize that the value of a parcel of land is a function of the legal uses to which it can be put. The appraiser must consider those reasonably probable uses that can be allowed in the foreseeable future. In this case, the FDOT took the position that the property’s use was residential while the owner’s position was commercial. After a five day trial, the 12-person jury returned a verdict within an hour equaling the owner’s opinion of the value of the property.