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re: Court unanimously rules against homeowners seeking fair market value after tax sale
Posted on 6/25/26 at 11:27 am to tigeraddict
Posted on 6/25/26 at 11:27 am to tigeraddict
quote:
The county seized the home anyway to recoup the disputed debt, selling it at public auction for about $76,000, despite the property having an estimated fair market value of roughly $194,000.
But here’s something to consider. The county’s goal is not to maximize a return on the house. They don’t want to hold onto properties long term. Their interest is in quickly divesting themselves of the property. That’s why they sell it at auction instead of hiring a real estate agent to list it and stage it. Selling it at action on a specific day is much easier than letting it sit on the market for months at market price and negotiating with buyers.. Dude should have spent the 2 grand to make the problem go away, but instead he’s spent god knows how much on lawyers and the house is long since gone.
1
Posted on 6/25/26 at 11:28 am to BuckeyeGoon
quote:
So the new owner's property tax liability is based on a $76,000 property, right?
Depends on which tax. Thats a steal for the winning bidder.. but if his intention is to sell, his basis is 76k.
Property tax? That assessment is going right back to appraisal.
This post was edited on 6/25/26 at 11:29 am
Posted on 6/25/26 at 11:33 am to CleverUserName
quote:
Thats a steal for the winning bidder.
Even more corruption in the way these auctions are kept super quiet. Seems a few money guys on the inside are always getting these properties at auction.
Posted on 6/25/26 at 11:35 am to Big4SALTbro
Eliminate property tax
I think Florida is moving to eliminate property tax
I think Florida is moving to eliminate property tax
Posted on 6/25/26 at 11:37 am to Zgeo
Yea Florida is trying to do it.
They have it right, tax corps and just have a higher sales tax and no income tax.
The gov needs its funds slashed since it can’t manage what it has
They have it right, tax corps and just have a higher sales tax and no income tax.
The gov needs its funds slashed since it can’t manage what it has
Posted on 6/25/26 at 11:40 am to Big4SALTbro
quote:
The gov needs its funds slashed since it can’t manage what it has
This has been made abundantly clear to all Americans paying attention. Unfortunately, the idiots are crying and protesting every time one of these obviously corrupt arms of the government is shut down.
Posted on 6/25/26 at 11:43 am to High C
If it wasn’t sad it would be funny. The screeching comes from those who have had their corrupt funds shut off and from their really dumb poor base that screams all the time even though they are partly so poor because of the Dems taxing schemes and their fraud.
Posted on 6/25/26 at 11:44 am to kingbob
quote:
I think the SCOTUS decision is the correct one, however, this is a case of “bad facts make bad law”.
The real contention by the homeowner wasn’t that auction prices aren’t “fair market value”, it’s that the local government purposely manipulated the auction to result in a lower selling price to screw over the homeowner.
That issue was not debated by SCOTUS and was left to the lower courts to decide. I am really curious to see how that side of the argument shakes out. If lower courts find that the local government purposely manipulated the auction process, and the case matriculates back up to SCOTUS on appeals, we could end up with a much more interesting ruling with regards to how tax auctions must be conducted in order to ensure homeowners get “fair market value” vs corrupt practices to facilitate redistributing property to connected cronies at a discount.
Correct. This case is not over.
Posted on 6/25/26 at 11:46 am to Eurocat
If your house is foreclosed on for a late mortgage, and it sells for more than the writ amount at auction, you get the overage as long as all other lien holders were paid in succession.
It should be the same for a tax sale IMO
It should be the same for a tax sale IMO
Posted on 6/25/26 at 11:50 am to imjustafatkid
I think this case could also prove important in the future in the context of proposed wealth taxes, where people would be tasked with paying taxes on “unrealized gains” (ie, assets increasing in assessed value without being sold).
This case emphasizes that fair market value is not value at an assessment, but rather the amount actually attained upon sale of the asset. As such, it could be used to strike down taxes on “unrealized gains”.
This case emphasizes that fair market value is not value at an assessment, but rather the amount actually attained upon sale of the asset. As such, it could be used to strike down taxes on “unrealized gains”.
Posted on 6/25/26 at 11:54 am to kingbob
quote:
the local government purposely manipulated the auction to result in a lower selling price to screw over the homeowner.
How did it do that?
I thought these type of auctions had to be publicized on a standard manner.
Did that not occur in this case?
Posted on 6/25/26 at 11:55 am to High C
quote:
This is a very uncomfortable truth in a country founded on the most basic rights to life, liberty, and property.
This. You should pay sales tax when you buy the property and never pay taxes on it again. I get that it funds local govt and infrastructure but that can be done with a local sales tax and other fees or taxes. Property tax should be illegal
Posted on 6/25/26 at 11:59 am to kingbob
quote:please provide facts to support this statement
The real contention by the homeowner wasn’t that auction prices aren’t “fair market value”, it’s that the local government purposely manipulated the auction to result in a lower selling price to screw over the homeowner.
Posted on 6/25/26 at 12:00 pm to Eurocat
quote:The pertinent question in my mind would relate to tax valuation. If taxes on a $76K home were assessed based on a $194K valuation, that would be a huge problem.
selling it at public auction for about $76,000, despite the property having an estimated fair market value of roughly $194,000.
Posted on 6/25/26 at 12:02 pm to moneyg
They allege that the amount owed in property taxes was manufactured, and that they never owed that to begin with. They allege that the entire process was instituted by the local government to essentially steal the property to sell it to a connected investor for way less than its worth.
The entire process was instigated to steal these people’s property because they wouldn’t sell. They are alleging that the government basically hid the auction from the public so that the only person who would show up is the buyer.
I don’t know if any of that is true, but that is roughly what plaintiffs are alleging.
The entire process was instigated to steal these people’s property because they wouldn’t sell. They are alleging that the government basically hid the auction from the public so that the only person who would show up is the buyer.
I don’t know if any of that is true, but that is roughly what plaintiffs are alleging.
Posted on 6/25/26 at 12:44 pm to High C
quote:
Even more corruption in the way these auctions are kept super quiet. Seems a few money guys on the inside are always getting these properties at auction.
They sure don't advertise them in blinking lights, but you can research it and find the dates.
I bid and bought the tax lien on 13 acres next to one of our properties a few years ago. The owners were long dead and it looked like only one heir was paying the taxes on it. I guess he finally got tired of it. It was so mired up in an estate with heirs all over the place, some that had probably never even laid eyes on the land, that I thought I would get the liens and blow right through the right of redemption.
Turns out the estate wasn't so buried in estate problems that it would have been hard for to sell. It sold to the other neighbor. I got my investment back and interest though.
Posted on 6/25/26 at 12:48 pm to Rex Feral
Killdozer happened for very similar reasons.
Posted on 6/25/26 at 12:58 pm to CDawson
quote:
One must pay the government annually to have the honor of living in your own house. Property tax should be scrubbed from the books as a way to steal from the people.
They’ll just impose other taxes if they get rid of property tax. The real problem here is the insane amount of money they tax overall and how much of it is wasted. Gotta fix that first
Posted on 6/25/26 at 1:06 pm to kingbob
quote:zero chance this is true.
They allege that the amount owed in property taxes was manufactured, and that they never owed that to begin with. They allege that the entire process was instituted by the local government to essentially steal the property to sell it to a connected investor for way less than its worth.
The entire process was instigated to steal these people’s property because they wouldn’t sell. They are alleging that the government basically hid the auction from the public so that the only person who would show up is the buyer.
Posted on 6/25/26 at 1:15 pm to Blizzard of Chizz
quote:
That’s why they sell it at auction instead of hiring a real estate agent to list it and stage it. Selling it at action on a specific day is much easier than letting it sit on the market for months at market price and negotiating with buyers
Then whatever it sold for that day at the auction is still the true market value. If you have to put time and money into getting the property to sell for the market value, then that isnt the actual market value. The market value should be what the property would sell for today as is.
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