Missouri HB1622 amends eminent domain proceedings to increase just compensation for condemned agricultural and horticultural property.
Missouri HB1622 modifies the compensation for condemned agricultural and horticultural property in eminent domain proceedings. It sets the compensation at the fair market value plus one percent for each year the property has been owned by the same family. For properties owned by the same family for fifty-one or more years, compensation is determined based on value and heritage. The bill also increases compensation for homestead takings to 125% of the fair market value and for agricultural or horticultural property to 150% of the fair market value.
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