Lowball Watch — North Carolina

Word reaches us that in a case in New Hanover County, North Carolina, involving the taking of the property of a building supply company, the state DOT presented evidence of $303,000 as just compensation (and later offered $700,000). The owners demanded $1,000,000 to settle. After trial, the jury verdict came to $2,995,000 — the amount of the owners’ evidence. After adding interest the total award came to $3,426,000. That’s over eleven times DOT’s original offer.

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