According to Accounting Today, the Supreme Court unanimously rejected a Minnesota county’s argument that a 94-year-old woman had no property interest in a condominium they seized from her and later sold for more than her unpaid taxes.
- According to the justices, which Constitutional Amendments were violated by the county?
- How much equity did the Supreme court say that the Minnesota court took illegally?
- According to Russell (2023), what states allow the practice of “home equity theft”?
- Which state recently eliminated the practice of “home equity theft”?
- How do you think this ruling will impact the states listed in #3 above?
Cohn, M. (2023). SCOTUS rules for 94-year-old in property tax case. Accounting Today, June 6 (Retrievable at https://www.accountingtoday.com/news/scotus-rules-in-favor-of-94-year-old-in-property-tax-case?)
Russell, R. (2023). Supreme Court examines ‘home equity theft’. Accounting Today, May 16 (Retrievable at https://www.accountingtoday.com/news/supreme-court-examines-home-equity-theft)