12 Apr What happens if people don’t pay the property taxes on their land or home?
In the United States, if someone does not pay the property taxes on their property, the State through the counties has the right to ultimately take that property away. The Counties rely on that tax revenue for much of their infrastructure, like schools, firefighters, roads… So if you don’t pay they can get their money by either selling what is called a TAX LIEN CERTIFICATE to investors or by selling the property outright. Both usually happen in an auction. In a Tax Lien State, the state only sells the TAXES owed to investors in exchange for them getting a very substantial and attractive interest rate that can go as high as 18% and in some cases even 36%.
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