“Home Equity Theft” ruled on by the Supreme Court

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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. 

Questions:

  1. According to the justices, which Constitutional Amendments were violated by the county?
  2. How much equity did the Supreme court say that the Minnesota court took illegally?
  3. According to Russell (2023), what states allow the practice of “home equity theft”?
  4. Which state recently eliminated the practice of “home equity theft”?
  5. How do you think this ruling will impact the states listed in #3 above?

Source:

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)