Early in the spring I was paid a sum of money by ODOT over an eminent domain situation where I'm going to lose about 40 ft. of my front yard to a road widening project. I've heard conflicting stories on this.
First, I've been told that since this my primary residence of dwelling that I can't be taxed on it, unlike if I was using the residence to make money (rental property etc.)
Second, it hardly seems fair that you lose a good chunk of your property and then get taxed on it. If I had a say in it, I would've kept my property.
Any insight to the tax laws is appreciated.