In the case of Murr v. Wisconsin, zoning changes made by the state devalued property so the owners claimed it should be deemed a "regulatory taking." In the end, the U.S. Supreme Court disagreed.
Over 50 years ago the Murr family purchased the property with the intention of passing down to their children. The children had decided to sell of one of the parcels but were told that the single lot was no longer able to be developed alone.
The family claimed this was in violation of the Fifth Amendment. The Wisconsin Court of Appeals found 5-3 that the family was not harmed when the properties were viewed together.
Much of the case focused on the "property as a whole." With this view Justice Kennedy found "the state court was correct to conclude that petitioners cannot establish a compensate taking They have not suffered a taking...as they have not been deprived of all economically beneficial use of their property."
The question is will this lead to new zoning laws that would put hardships on owners. It could force them to sell their property.
For more information on this topic please refer to the article in the Daily Business Review
For assistance in your property tax appeal we can be found at www.PTAGflorida.com