- 16 - Acquisition Policies Act of 1970, 42 U.S.C. �� 4601- 4655 (1976) applicable to state highway projects by reason of the contribution of federal funds. This relocation payment is defined by statute as that amount which, when added to the acquisition cost of the dwelling taken, equals the cost of a comparable replacement dwelling. 42 U.S.C. � 4623 (1976). To compute the appropriate sum of relocation assistance, which is subject to a maximum of $15,000.00, it is necessary to determine how much was paid in the condemnation of the property owner’s former dwelling and to deduct that amount from the ascertained cost of a replacement dwelling. * * * [Tonnar v. Missouri State Highway & Transp. Commn., 640 S.W.2d 527, 529 (Mo. Ct. App. 1982).] Therefore, given the history, language, and interpretations of the statute, we hold that only payments expressly authorized by subchapter II and in excess of the just compensation paid for taken property are exempted from taxation by the Relocation Act. B. Nature of $65,000 Payment Received by Petitioner Having determined that the Relocation Act will exempt petitioner’s $65,000 payment from taxation only if it is in the nature of relocation assistance rather than just compensation or acquisition cost, we turn to the question of how these proceeds should be characterized. Contrary to petitioner’s averments that the $65,000 was a portion of her relocation assistance, however, we find that the documentary evidence presented indicates otherwise. First, as a general proposition, the evidence suggests that the policy of the State of South Dakota was to maintain a distinction between fair market value paid for property andPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Next
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