What is the cost to the government exercising its power of eminent domain?

The cost to the government exercising its power of eminent domain is the compensation that must be paid to the property owner when they take the property. This is an important consideration because the government must pay the fair market value of the property. This means that the property owner should receive the same amount for their property as if they had sold it on the open market. This can be an expensive process, especially when dealing with improved properties or businesses that may require relocation. In South Carolina, the South Carolina Code of Laws requires that the government must pay the amount of just and adequate compensation for private property taken for public use. This amount should be equal to the market value of the property, which is determined by appraisers. Furthermore, the government is responsible for any expenses incurred in the process of eminent domain, such as appraiser fees, relocation costs, and attorney fees. Therefore, while the power of eminent domain can be beneficial for the public good, it can also be costly to the government.

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What is the cost to the government exercising its power of eminent domain?

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