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Notes -
I see a couple issues with this.
First, a new (restrictive) regulation might actually increase the value of your property if it applies to other properties in your area. So for example, suppose you own a brownstone in a "historic district" and a regulation requires you and everyone else in that district to maintain the exterior of your property in a certain style. As a result, the district is quaint and beautiful and everyone wants to live there. Not guaranteed to happen, but not out of the realm of possibility either.
The other issue is that government is constantly doing things which have effects on peoples' property values. A new regulation about parking might result in more people parking on your street, making it look more busy and less attractive. The same thing with a new bus route. Or a Cannabis license to a business in the downtown area of your town. Or a prison being built a mile away. Or an airport 20 miles away changing its take-off and landing patterns.
As a practical matter, it would be impossible to adjudicate all these little issues. There just aren't enough judges, courts, or lawyers. So the only realistic choice is to limit the concept of a regulatory taking to the most extreme cases.
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