[kortilla]

> an enormous multiplier over market value

“Market value” requires willing participants. If a seller doesn’t want to sell at a particular price and the good isn’t fungible (which housing is not), they aren’t getting market value by being forced to sell at a price determined solely by the buyer.

[Dylan16807]

Do you want me to say "taxable value*" instead?

If you think it's impossible to assess the value of a property, the whole legal world disagrees with you.

And yeah, the point of eminent domain is to force the sale on unwilling participants. If used sparingly and without discrimination, it's a good power, and part of living in a community that will undertake community projects.

* the underlying assessed value, excluding artificial caps like prop 13

[kortilla]

Sure, go with “taxable value”, but let’s not pretend it’s market value any more than the market value of a human life is what an insurance company values it at.

[mensetmanusman]

It seems difficult to asses land value when it seems to have inflated 100% in 10 years.