Wednesday, May 13, 2009

Eminent domain reform key to protecting property owners' rights

Tuesday at the Dallas Real Estate Symposium, I spoke to a group of real estate professionals affiliated with the North Texas Chapter of the Appraisal Institute. The daylong seminar included discussions by real estate professionals from throughout Texas with a great deal of knowledge about the current real estate market and its impact on our state’s economy.

One panelist testified that on many commercial properties he has been appraising, the debt on the property exceeds the value in some markets by two-to-one! The good news is that these professionals are analyzing this data to help Texans make smart decisions and turn our economy around.

My remarks focused on promoting Texas agriculture and the importance of protecting property owners’ rights. The underlying value of real estate is bolstered by the ability to use and hold property to its fullest extent.

Currently, the Texas Legislature is considering key eminent domain reform legislation that has passed the Senate and is currently in the House. For more information about Senate Bill 18, authored by Sen. Craig Estes, or more views on property owners’ rights, read my Private Property Owners’ Bill of Rights. You can find out more about SB 18 here.

The Texas Farm Bureau’s Web site also has a special section devoted to eminent domain reform in Texas with informational videos, news stories and other helpful links. TFB has held many meetings and worked tirelessly throughout the past legislative interim to help bring about needed reform.

1 comment:

David Guenthner said...

The Texas Public Policy Foundation's Bill Peacock has an op-ed in Thursday's San Antonio Express-News on SB 18.