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Alaskan Community Considers Property Value Compensation Measure

Posted by: Nate Berg

10 September 2007 - 10:00am

A measure on the Alaskan ballot this October could require a local government to compensate landowners if new land use regulations hurt property values -- a measure similar to Oregon's controversial Measure 37 that is meeting similar resistance.

"An anti-government measure similar to one that has tied the state of Oregon in knots is on the Matanuska-Susitna Borough election ballot Oct. 2."

"Proposition 1 says that property owners must be compensated if a new land use regulation reduces the fair market value of their property. If the town or borough government can't or doesn't want to pay, the government can waive the new rule."

Full Story: Valley measure could cripple Mat-Su government
Source: Anchorage Daily News, September 7, 2007
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Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
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