Pung v. Isabella County · ¶63

The County, having foreclosed on the Pungs’ home, sold it. The County had determined that the fair market value of the Pungs’ property for the purpose of property taxes— including the property taxes that formed the basis for this suit—was $194,400. But, when the County sold the Pungs’ property, it sold it for only $76,008, under 40% of its fair market value. Less than 18 months after the auction, the new owner sold the property on the open market for $195,000, almost exactly its earlier assessed value.

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