How does the valuation process work?

The valuation process for eminent domain law in South Carolina begins with the owner of the property filing a written claim with the court. The claimant must include a detailed description of the property in question, including an estimated fair market value. The claimant is then entitled to a jury trial to determine the fair market value of the property. The jury will examine evidence submitted by both the government and the claimant, including an appraisal of the property. The appraisal must consider and address the public purpose for which the property is being taken, its highest and best use, and the market history of similar properties. Once the appraisal is completed, the court will review the evidence and make a determination on the fair market value of the property. In order to protect the property owner, the jury is required to award the fair market value of the property, plus interest for any damages that may have occurred. This value is often based on evidence such as the testimony of experts, the market value of similar properties, and the current economic conditions. The government is then responsible for paying the fair market value of the property, plus any and all necessary damages. The payment is typically made after the court enters a final judgement of the fair market value. This payment is then put into an escrow account to ensure that the property owner receives their compensation.

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How does the valuation process work?

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