This case has been cited 1 times or more.
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2003-06-20 |
QUISUMBING, J. |
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| In fixing the valuation at P500.00 per square meter, the Court of Appeals noted that the trial court had considered the reports of the commissioners and the proofs submitted by the parties. This included the fair market value of P1,100.00 per square meter proffered by the respondents.[25] This valuation by owners of the property may not be binding upon the petitioner or the court, although it should at least set a ceiling price for the compensation to be awarded.[26] The trial court found that the parcels of land sought to be expropriated are agricultural land, with minimal improvements. It is the nature and character of the land at the time of its taking that is the principal criterion to determine just compensation to the landowner.[27] Hence, the trial court accepted not the owner's valuation of P1,100 per square meter but only P500 as recommended in the majority report of the commissioners. | |||||