Added by Stats. 1975, Ch. 1275.
Compensation shall be awarded for the property taken. The measure of this compensation is the fair market value of the property taken.
Article 4 - Measure of Compensation for Property Taken
California Code of Civil Procedure — §§ 1263.310-1263.330
Sections (4)
Amended by Stats. 1992, Ch. 7, Sec. 2. Effective January 1, 1993.
(a)The fair market value of the property taken is the highest price on the date of valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for so doing, nor obliged to sell, and a buyer, being ready, willing, and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all the uses and purposes for which the property is reasonably adaptable and available.
(b)The fair market value of property taken for which there is no relevant, comparable market is its value on the date of valuation as determined by any method of valuation that is just and equitable.
Added by Stats. 1992, Ch. 7, Sec. 3. Effective January 1, 1993.
A just and equitable method of determining the value of nonprofit, special use property for which there is no relevant, comparable market is as set forth in Section 824 of the Evidence Code, but subject to the exceptions set forth in subdivision (c) of Section 824 of the Evidence Code.
Added by Stats. 1975, Ch. 1275.
The fair market value of the property taken shall not include any increase or decrease in the value of the property that is attributable to any of the following:
(a)The project for which the property is taken.
(b)The eminent domain proceeding in which the property is taken.
(c)Any preliminary actions of the plaintiff relating to the taking of the property.