The Federal Government provides disaster insurance that helps people to build va

Question

The Federal Government provides disaster insurance that helps people to build vacation homes in places subject to flooding, such as sand dunes. Assume the government wants to protect the environment by preventing construction of homes on a specific sand dune near the ocean. If the government takes private property on the sand dune, either by condemning it or by imposing regulations that forbid any construction, should compensation include ort exclude the increase in the value of land cause by government flood insurance?

Explanation / Answer

The people should be compensated fairly if the government owns a private property on a particular sand dune. And this involves including the increase of the value of the land caused by the government flood insurance in the compensation. If the people are deprived of the right to construct homes on a particular sand dune then they should be compensated fairly for this deprivation.

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