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Lawsuit over pot, property values could have broad impacts
Source: Associated Press
Lawsuit over pot, property values could have broad impacts
Vulnerability to similar property value lawsuits is among the many risks facing marijuana businesses licensed by states
By KATHLEEN FOODY and THE ASSOCIATED PRESS | The Associated Press
PUBLISHED: October 28, 2018 at 12:00 pm | UPDATED: October 28, 2018 at 12:05 pm
DENVER — A federal trial in Colorado could have far-reaching effects on the United States’ budding marijuana industry if a jury sides with a couple who say having a cannabis business as a neighbor hurts their property’s value.
The trial set to begin Monday in Denver is the first time a jury will consider a lawsuit using federal anti-racketeering law to target cannabis companies. But the marijuana industry has closely watched the case since 2015, when attorneys with a Washington, D.C.-based firm first filed their sweeping complaint on behalf of Hope and Michael Reilly.
One of the couple’s lawyers, Brian Barnes, said the Reillys bought the southern Colorado land for its views of Pikes Peak and have since built a house on the rural property. They also hike and ride horses there.
But they claim “pungent, foul odors” from a neighboring indoor marijuana grow have hurt the property’s value and their ability to use and enjoy it.
-snip-
Vulnerability to similar property value lawsuits is among the many risks facing marijuana businesses licensed by states
By KATHLEEN FOODY and THE ASSOCIATED PRESS | The Associated Press
PUBLISHED: October 28, 2018 at 12:00 pm | UPDATED: October 28, 2018 at 12:05 pm
DENVER — A federal trial in Colorado could have far-reaching effects on the United States’ budding marijuana industry if a jury sides with a couple who say having a cannabis business as a neighbor hurts their property’s value.
The trial set to begin Monday in Denver is the first time a jury will consider a lawsuit using federal anti-racketeering law to target cannabis companies. But the marijuana industry has closely watched the case since 2015, when attorneys with a Washington, D.C.-based firm first filed their sweeping complaint on behalf of Hope and Michael Reilly.
One of the couple’s lawyers, Brian Barnes, said the Reillys bought the southern Colorado land for its views of Pikes Peak and have since built a house on the rural property. They also hike and ride horses there.
But they claim “pungent, foul odors” from a neighboring indoor marijuana grow have hurt the property’s value and their ability to use and enjoy it.
-snip-
Read more: https://www.denverpost.com/2018/10/28/denver-marijuana-property-tax-lawsuit/
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