Givings and Takings

Abstract

This is another article on regulatory “takings”—but with a new twist. It takes a close look at the role of state and local government in increasing-rather than decreasing-property values, and evaluates how that fact should affect regulatory takings analysis. One important premise is that local governments take actions that both increase and decrease property values, and that regulatory takings analysis needs to recognize both sides of the equation. A second premise is that the law of inverse condemnation holds some lessons about how and when it is fair to offset property value increases and decreases.