A house has a property tax an owner ought to pay but consecutive misses on paying it, will make the government put your house on a tax sale and it can be bought by someone else. If you are wondering where the money you pay for a property tax goes, then you should know that these funds are utilized in medical services, local government operation, police/fire protection, local education, and the building of local infrastructure. Taxes really matter for the government that needs the different expenses.
Once you fail to pay your property tax the consequences include your property gets put up for tax lien sale or a tax deed sale. This is a way for the government to collect the delinquent taxes from you.
Laws from each state regarding the tax sales are unique. Local governments are oftentimes free to just hold a tax sale, no verdict whatsoever from the court, that is the reason property taxes are urgently paid. The process is faster because the court does not participate, thus the local records easily includes your property in their listings, moreover your property is easily included also in the newspaper listings. You will then be informed of the pending tax sale. The government then organizes a bidding amongst the potential buyers where the property’s value starts at the sum of the delinquent tax, interest, and other penalties. The one who with the best bid gains a tax deed or a tax lien certificate.
A tax deed means that the government will sell ownership and the rights to a property. Through a tax deed a person will acquire a property on a tax sale.
What happens in a tax lien certification is that the authorities put the taxation rights of a property on sale. Through a tax lien certification, a person will acquire all of the property owner’s due taxes and penalties to be paid to the government. Penalties the go beyond the due date will prompt a tax lien certificate-holder to take actions in taking the property from the owner.
You have to get a tax sale attorney’s assistance for such cases. You can always ask for a tax sale lawyer’s aid whenever your property is recorded for a tax deed sale or a tax lien sale.
The redemption process of your property can be hastened by a tax sale lawyer. The lawyer can tell you counter the tax deed by paying the purchaser’s total expenses to acquire the property back. Through a lawyer you will be able to redeem the property even if the bidding has not taken place yet. A tax sale lawyer is capable of formulating a good reason why you were not able to pay the taxes, if problems are identified from the tax sale.
If your property is on a tax lien sale, then a lawyer is capable of guiding you in the process of redeeming it. The redemption is almost the same as the tax deed.