2006-12-24 04:11:08 · 6 answers · asked by Paula S 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
It depends on what state you live in. In NJ, your taxes will accrue an 8% penalty for amounts under $1500 and 18% for amounts over $1500. Each municipality holds a tax sale at least once per year at which point delinquent taxes are sold as a lien against the property. After 2 years, the lien holder has the right to foreclose on the property.
In PA, delinquent taxes are handled by collection agencies.
2006-12-27 08:55:13 · answer #1 · answered by wasn't going 2 3 · 0⤊ 0⤋
In my state, you are charged a 10% penalty, plus interest on the unpaid amount of tax. If you dont pay the tax within about two years, they will take your property and offer it for sale at auction
2006-12-24 04:14:04 · answer #2 · answered by jkc19452004 2 · 1⤊ 0⤋
well i know where i live it becomes pretty embarrassing they post all the late payers names in the paper and i do believe they can put a lien on your property making it difficult to refinance or sell your home. but you might want to call your tax assessors office and ask them they can give you the best answer!!! good luck! taxes suck!! lol1
also in the future you might want to look into having your taxes included in your mortgage it makes it much easier to pay it when its spread out throughout the year rather than a big lump sum!!
2006-12-24 04:14:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
nothing really...you will have a penalty of 10% or so on the total owed (which if you owe alot- this could add up).-and you can't renew your tags the next year until you pay it...
most important if you do not pay it for many years -others could pay it and wind up owning your property...your local courthouse can explain..
best bet try and get it payed as soon as you can
2006-12-24 04:22:16 · answer #4 · answered by ~*common sense*~ 5 · 0⤊ 0⤋
They start adding on fines and interest, sooner or later they sell the property at public auction.
2006-12-24 12:10:55 · answer #5 · answered by bestbet77 3 · 1⤊ 0⤋
They'll put a lean on your property.
2006-12-26 13:36:19 · answer #6 · answered by LC 2 · 0⤊ 0⤋