Tag

Fair Market Value

All articles tagged with #fair market value

SCOTUS narrows compensation baseline in tax-sale takings case
law2 hours ago

SCOTUS narrows compensation baseline in tax-sale takings case

The Supreme Court held that when a property is seized and sold to satisfy a tax debt, the owner is entitled only to the surplus sale proceeds (the sale price minus the tax debt) as just compensation under the Takings Clause, not the property's post-sale fair-market value; the ruling remands procedural challenges to the Sixth Circuit and underscores potential consequences for tax-collection practices, while rejecting an Eighth Amendment excessive-fine argument and leaving other due-process questions to lower courts.

Benny's on the Beach secures new lease after rent dispute.
business3 years ago

Benny's on the Beach secures new lease after rent dispute.

Lake Worth Beach commissioners have approved a 10-year lease agreement to save Benny's on the Beach, a popular beachside restaurant in Palm Beach County, from closing. The restaurant owner will pay 65% more on average throughout the lease and double by the end to bring it up to fair market value. The restaurant has been around since 1986 and employs about 200 people.