Hello,
After 5 years in court, my local municipality used a portion of my property for a culd e sac that was not engineered and caused storm water run of to my home and property. After a long fight for resolution to stop the storm water and receive an easement for the land taken, we settled. My questions is the settlement amount is exactly what the cost of the damages is to repair the storm water damage to my home and property. Is this taxable? If it is what is the percentage and how do I file the tax.
Thank you.
