There is no zakaah on money that is being held as compensation for taking land
Question

                The state took away some land of mine in order to build a road, and gave me compensation for taking away the land, but I cannot take possession of this money until several years have passed. Do I have to pay zakaah on it?.
Praise be to Allah.
    You do not have to pay zakaah on this money until you take 
    possession of it; when you take possession of it you should count one 
    (hijri) year from the day you took possession of it, then pay zakaah on it 
    after one year. 

    Shaykh Ibn Baaz (may Allaah have mercy on him) was asked a 
    similar question, and he replied: If property has been seized and its value 
    estimated, but the owner has not been able to take possession of it due to 
    reasons beyond his control, no zakaah is due on it until he takes possession 
    of its price and a full year has passed. End quote. 

    Majmoo’ Fataawa Ibn Baaz 
    (14/41) 

    And Allaah knows best.