Stillwater Newspress Forum

Excerpted from Stillwater NewsPress Forum: OSU Property Seizure. Please visit the Stillwater NewsPress Forum to read all posts.

Posted November 16, 2005 10:40

The article says that OSU will have to pay “fair market value” to the residents. This is a bit incorrect. What the law actually says is that OSU has to give just compensation. In my case this was initially 72K on a 2500 sq. ft. house that I had a tax appraisal of $115,000 on. When they took my house last spring, there was only 1 home for sale in Payne county of comparable size in any condition for less than $115,000. OSU will use every trick in the book to bring the value down. Why? Quite simply, the lower they pay one person the more they bring down property values and the less they can pay the next person.

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