Property taxes?

Question

I want to know if I do not pay property taxes for 1 year what are the consequences? I live in St Lucie county,Florida. I want to know EXACTLY what steps are taken, like do they place a lien or what? I do not escrow my taxes with my mortgage. So if I still pay my mortgage but not my property tax what can happen. I want to know all the steps the county takes. Remember I still pay my mortgage to the bank. So I am still paying something to keep my house right?

Answer 1

use google to find and read the Florida law on the subject for the exact details.

I think that unpaid taxes in Florida are sold at auction once a year in each county, with the bidding being in percent annual return starting at 20% and going downward. Lowest bidder pays the taxes plus late fee to the county and gets the certificate at the rate bid. If no one bids, the certificate is issued at 20% and may be bought in later by anyone at the tax collector's office.

If I recall correctly, property owner may redeem the certificate by paying the full amount plus interest at the tax collector's office for up to three years afterward [you'd best check this detail ... memory is weak here].

After the years have elapsed, if the property tax and interest hasn't been paid (certificate redeemed), the owner of the tax lien certificate may begin foreclosure proceedings.


have fun

Answer 2

This depends on Florida law and anyone that does not consult the Florida laws can't answer this.

Odds are what will happen is that your taxes due will double. They will charge a penalty, then smack you with really high interest rates. This continues to snow ball as you struggle to catch up past years and can't stay current.

Sorry. My only suggestion would be to take in a renter and put all that money towards taxes, or take a second (or third or fourth) job and try to keep current.

After a certain time (varies by state) the government will auction your home to get their taxes. Then you still have a mortgage obligation, but no home to live in.

Tough situation. Yahoo has an article right now on how to find an extra $1000 every month. You might want to read that for some suggestions.

Good luck

Answer 3

It can take some time for a tax foreclosure to go through, but the government can definitely take your property if you don't pay the taxes. It doesn't matter if you have a mortgage. There will be interest and penalties added to the delinquent tax bill, and municipalities have to publish legal notices to the public prior to the actual foreclosure. Many of them do this by putting the names of delinquents in the newspaper.

So, if you don't mind having friends, neighbors, co-workers and especially, your bank, see your name in the paper, and don't mind paying more for something than you need to, by all means, let your taxes go delinquent before paying them. Or don't pay, ever, and lose your house. Trust me, the bank will know and they will step in and probably foreclose on you first. That can take only a few months. Believe me, they aren't going to lose their investment over a few thousand in taxes. Read the mortgage agreement you signed. I'm quite sure it requires you to keep your taxes current.

Answer 4

Eventually, you can face foreclosure for unpaid taxes even if your mortgage is paid to date. Same goes for Association Dues if you live in a Townhome or Condo. You probably just have more time. You might want to consider escrowing for your taxes and insurance. There is an company out that that will do that for you without having to refinance but I am not sure of the name of it. I would guess by a search on the internet you could find it. You would have to bring your taxes current and the provide a cushion, so it would be a little chunk of money depending on where you live.