Supreme Court Takes Property Tax Foreclosure Interest Suit (2)

The US Supreme Court agreed Friday to review how to calculate the just compensation a government owes to a property owner who was subject to a tax foreclosure.

The case, which disputes whether the compensation should be based on the property’s fair market value or auction sale price, also sought the justices’ view on whether selling such property for substantially less than its real value constitutes an excessive fine under the Eighth Amendment.

Michael Pung, the representative of Timothy Pung’s estate, argued the estate was entitled to the total loss in equity, which is about $192,000 after deducting the approximately ...