DEAR BOB: I own several acres of vacant land, zoned agricultural, which is valued at $145,000 per acre. Until about five years ago, I had many prospective development buyers. But then the city and county announced future plans to build a frontage road through my property. Now there is no interest in my land from buyers. But the city and county refuse to make a decision to buy or condemn my land. In the meantime, I have to pay property taxes and also pay for trash removal. Do I have any recourse under Internal Revenue Code 1033 for "involuntary conversion"? – Zoe H. more...
