He state government offered mike $300,000 for his family’s property, which they plan to use for building a new development. the eighth amendment allows the state government to take the property as long as it is used to benefit the public . mike can still dispute the government’s offer if the compensation is less than his annual profits from the land .

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17-08-2022
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He state government offered mike $300,000 for his family’s property, which they plan to use for building a new development. the eighth amendment allows the state government to take the property as long as it is used to benefit the public . mike can still dispute the government’s offer if the compensation is less than his annual profits from the land .

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HafsaM HafsaM · Answer 1 · 2022-08-24T07:09:53-04:00

Mike can still debate the state government’s offer of $3,000,000 against the cost of property owned by him only if the compensation is lower than the value of land in the market.

The fair market value is the cost of an asset or property that is available in the market for sale purposes.

According to the fifth revision in the US constitution where the state government can acquire any property if it is utilized by them for not-for-profit motives. In the provided case, the state government give Mike $3,000,000 as the cost of his property which they required for making new developments.

Therefore, if the cost of property given by the state government is lesser than its market value, only then he can raise a dispute against the government.

Learn more about the amendment in the US constitution in the related link:

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