§ 40A-64. Compensation for taking. - North Carolina Statutes

§ 40A‑64.  Compensationfor taking.

(a)        Except as providedin subsection (b), the measure of compensation for a taking of property is itsfair market value.

(b)        If there is ataking of less than the entire tract, the measure of compensation is thegreater of either (i) the amount by which the fair market value of the entiretract immediately before the taking exceeds the fair market value of theremainder immediately after the taking; or (ii) the fair market value of theproperty taken.

(c)        If the owner is tobe allowed to remove any timber, building or other permanent improvement, orfixtures from the property, the value thereof shall not be included in thecompensation award, but the cost of removal shall be considered as an elementto be compensated. (1981,c. 919, s. 1; 2001‑487, s. 17.)