What power allows the government to take private property for public use?

Eminent domain is the legal principle that grants the government the authority to take private property for public use, with compensation to the owner. This power is rooted in the Fifth Amendment of the U.S. Constitution, which requires that private property shall not be taken for public use without just compensation. Eminent domain can be exercised for a variety of public purposes, such as building roads, schools, or parks, which are deemed beneficial to the community at large. Understanding this concept is crucial for appraisers, as it often impacts property values and market conditions when government projects are announced or implemented.

The other aspects mentioned, such as easements, police power, and taxation, do not involve the outright taking of property. Easements allow for limited use of a part of property without transferring ownership. Police power permits the government to regulate behavior and enforce standards for health, safety, and general welfare, while taxation involves the financial obligation owed to the government based on property ownership, but does not involve the taking of property itself.