What Happens to Tax Delinquent Properties?

By dhinternational  /  May 5, 2015 / Comments Off on What Happens to Tax Delinquent Properties?

What Happens to Tax Delinquent Properties?When property owners get into financial troubles, larger bills are some of the first they tend to skip. There are those who choose to ignore property taxes when it’s due. They either do this intentionally or just don’t have the money to pay for it. However, the government is not known to be lenient when it comes to homeowners who do not pay their property taxes. Properties that have back taxes on them would be sold to an auction in order to pay back the debt. Real estate investors can take advantage of this to get a property at far below the normal market price.

Prior to a tax deed sale, homeowners are given a redemption period for them to pay back what was owed in property taxes. However, in some situations, the troubled homeowners simply cannot redeem their properties. In this case, the county is going to step in and collect the taxes owed through an auction.

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