§172-2 Department to appraise lands; determine commutation; interest; lien. The department of land and natural resources shall cause to be appraised each piece of property upon which commutation shall then be due. The value of the property for the purposes of this chapter shall be fixed by the appraisers as nearly as may be at the value of the land without improvements as of the date of the award of the property made by the board of commissioners to quiet land titles.
Upon the value so ascertained the department shall determine the amount of the commutation due according to the terms of the award. The commutation so fixed shall bear interest from and after January 1, 1910, until paid, at the rate of six per cent a year and the commutation and interest is hereby made a lien upon the land superior to all other encumbrances. [L 1909, c 90, §2; RL 1925, §571; RL 1935, §1602; RL 1945, §4632; RL 1955, §100-2; am L Sp 1959 2d, c 1, §21; am L 1961, c 132, §2; HRS §172-2]