2006-11-04 08:37:13 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Where you are makes a big difference in how long you have before it turns into a problem. Make payments if you can, because interest is only computed on the unpaid balance.
Where I am, it takes a little over a year before they put your taxes up for sale in the form of a tax lien certificate, and it's at least 3 years from then before the certificate holder can try and force a sale in order to be repaid.
Make paying the money a priority because a tax lien certificate will accrue penalties, fees and interest at an astronomical rate. A $500 lien could end up costing you $2,500 to $3,000, and even more if the lienholder starts foreclosure.
2006-11-04 09:26:13 · answer #1 · answered by BoomChikkaBoom 6 · 1⤊ 0⤋
Check with the assessor. I know in Iowa when they slap a lien on your house you had 18 months before the new owner could take it. Pay that sucker off as fast as you can. The whole time the new owner is getting a huge amount of interest. Once you're caught up, put aside money every month for the next property tax payment. Those times of year can really sneak up on you.
2006-11-04 08:57:17 · answer #2 · answered by chefgrille 7 · 0⤊ 0⤋
Where do you live? The laws are different in each state. In Florida, you can go up to almost 3 years before you lose the home to auction through a tax deed sale. You would have to pay the back taxes with interest to stop the sale.
Check with your county tax accessor for information on your particular locale.
p.s. Check your mortgage closely, they bank may hold you in default of your loan if you fail to pay the taxes. That's another consideration!
2006-11-04 12:49:00 · answer #3 · answered by Realtor Jim 2 · 0⤊ 0⤋
Nothing will happen if you don't pay them right now. you will get a notice that you are late, and you may have to pay a late fee, but you have 3 years to get your property taxes paid up before they take action against you. You should start setting monies aside whenever you can to pay on them, so they won't foreclose in 3 years.
Call your local tax assessors office and see if you can set up a payment plan.
2006-11-04 09:26:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
once you purchase a house and close all taxes which incorporate returned taxes are paid at last by capacity of the broking. you do no longer ought to rigidity on the subject of the taxes. in the event that they owe returned taxes, it ought to probably propose that they are having a no longer common time making their loan charge which could be a feasible reason they are promoting. communicate with a community REALTOR that may additionally assist you purchase the abode if the home is listed. attempt to no longer circulate with the itemizing agent as much as they might incredibly like which you will apply them in paying for a house they have listed using fact it is extra funds of their pocket. % yet another REALTOR who provides you with advice approximately what to furnish and can take interior the process the finished technique. in case you circulate with the itemizing agent, he's working for the broking attempting to get them the utmost quantity of money feasible and could no longer propose you on your terrific hobbies.
2016-10-21 06:37:26 · answer #5 · answered by oleyar 4 · 0⤊ 0⤋
If you don't pay, you could lose your house. However, you may want to go to the County Assessor's office and see if you can make payments. I'm would think that they would rather try to work something out with you than take your house.
Wouldn't hurt to just find out.
2006-11-04 08:40:32 · answer #6 · answered by msjuliet2005 4 · 1⤊ 0⤋
If you live in California don't worry about it until the next year, try to pay it off before the next year comes around. If your planning on refinancing soon they will pay it off for you. Don't worry. Good Luck
2006-11-04 08:44:10 · answer #7 · answered by Ricky 2 · 0⤊ 0⤋