what does it mean when delinquent real estate taxes go to the state?
real estate taxes are entirely a county thing, if they become delinquent the county can seize the property and put it up for auction the state does not enter into the picture
It doesn't mean anything. Delinquent real estate taxes don't go to the state. It's a nonsensical statement.
Delinquent real estate taxes don't go to the state. The local taxing authority eventually sells the property for the unpaid taxes and keeps the proceeds themselves. In many jurisdictions if the taxing authority receives more than the unpaid taxes, penalties, interest, and fees, the excess is returned to the former property owner or is escheat to the state for safe keeping if the owner cannot be identified or located. Edit: The property is auctioned off to the highest bidder. Although the tax liability attaches to the property, property owners must perfect their right to keep the property by paying the property taxes as they come due. If they don't pay, they eventually will lose the property.
funding for this manner a large gamble comes out of your mark downs account. In maximum states, you do not purchase the homestead for antisocial taxes. you purchase a tax deed or tax lien, which will value you the quantity of antisocial taxes. maximum states have redemption sessions for the vendors on those deeds/liens, with some being see you later as 3 years. If the owner redeems, all you get is you money lower back with pastime. The residences that are easily abandoned for unpaid taxes are specifically no longer truly well worth the quantity of taxes owed on them. this isn't a recreation for the fairway. you may finally end up paying for what you imagine is a warm deal, basically to locate later that the position is a candidate for a SuperFund environmental freshen up. wager who could swallow THAT cost ? Yup, it can be YOU.
