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Secretary of the Department of Public Works and Highways, et al. vs. Spouses Tecson [DISSENTING OPINION LEONEN, J.]

SECRETARY OF THE DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS AND DISTRICT ENGINEER CELESTINO R. CONTRERAS, PETITIONERS, VS. SPOUSES HERACLEO AND RAMONA TECSON, RESPONDENTS. [DISSENTING OPINION LEONEN, J.]

G.R. No. 179334 | 2015-04-21

DISSENTING OPINION
 
LEONEN, J.:
 
I dissent.
 
The concept of payment of the "fair market value at the time of taking" in expropriation cases is squarely raised in this case. The landowners are being paid compensation seventy-five years after the actual taking of their property. Thus, judicial doctrine should approximate the present or replacement value of the property had the compensation been paid at the time of the taking. I dissent with the mechanical application of arbitrary interest rates. Instead, we should adopt the economic concept of present value, which is widely used in business and in financial circles. By...