CT HB06755

Requires two independent appraisals by state-certified real estate appraisers for real property acquired by eminent domain under sections 8-128, 8-193, or 10-241a, or by condemnation under section 32-224 for redevelopment or development plans.

Compensation shall equal the average of the two independent appraisals, except for property acquired under section 8-193 or section 32-224, which receives 125% of the average amount.

For property acquired under section 10-241a for school construction, compensation equals the average of appraisals or the assessed value on the most recent grand list, whichever is greater.

Increases compensation by an additional 5% per year (from year 6-10) when acquiring property more than five years after acquiring another parcel within 1,000 feet under the same redevelopment or development plan.

Takes effect October 1, 2015 and amends section 8-129(a)(2) of the general statutes.