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Old 01-11-2013, 09:22 AM
 
Location: Barrington
42,251 posts, read 32,031,830 times
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Quote:
Originally Posted by magha View Post
i live in illinos never been late on my taxes until now havent payed anything on the proerty taxes plan to pay soon how much more will it cost me i owe 1295.00 thats all can some one let me know
It depends on the township and county. Call the phone # on your property tax bill or go online.

( Just realized this is an old thread)
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Old 01-12-2013, 09:05 AM
 
532 posts, read 1,401,667 times
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Quote:
Originally Posted by DoreenCampbell View Post
It's a lein on the home, where if you sell you must pay them. Meantime, the note bears interest.
I know this is an old thread, but I have a question. It is out of curiosity, mostly.

Last Thanksgiving, I forgot to pay my property taxes and I got a (rather nondiscript) note in the mail they were going to advertise my property in a tax sale. I went to pay, but the tax collector at the township couldn't or wouldn't adequately explain what the tax lien is. (She was quite rude, in fact, kept on repeating loudly "They're going to buy a lien and foreclose you outa your house!" over and over, to every question) I couldn't figure it out what a lien is by reading online either.

So what exactly is a tax lien, or tax foreclosure, if they are different--can someone explain?

Only judging from what Doreen said, it seems like they advertise and someone buys the lien, and that person bids for the amount of interest they will get paid??? Then when you sell the house, you must pay them the principle plus the interest? Are you allowed to pay them off early? Like, say, a week--as soon as you realized this happened? (Like, say, I had overlooked that note) Or are you forced to wait until you sell your home?


I only ask, because forgetting to pay my taxes was a real 'gotcha moment' when I realize that as we get older our memory is not so good--and you don't get a bill from the township--you are just supposed to remember. Every person waiting with me in (a longish) line was actually quite old, elderly, and these poor souls were all saying, 'I just forgot'. And they didn't give a lot of notice, the supposed tax lien sale was thirty days away.

Do people, especially older people, get in a lot of trouble by just forgetting? Because in my town, I would imagine most older people own the home without mortgage. Or am I just imagining a bad scenario that doesn't exist.

Last edited by Karen59; 01-12-2013 at 09:56 AM..
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Old 01-12-2013, 09:40 AM
 
Location: Ocala, FL
3,124 posts, read 5,795,656 times
Reputation: 2644
Keep in mind that the laws vary state to state and city to city so there is no simple answer in every case.

In my city, unpaid property tax bills go to auction after the final due date every year. A home cannot be forced into foreclosure until after 3 years of unpaid taxes and in some cases it doesn't always go to foreclosure. Essentially the decision is up to the lien holder's discretion. It is this way in my area, but may differ in your area.

It's like the old saying, "In life, nothing is certain but death and taxes". Unfortunately, municipalities are getting desperate to collect on their outstanding debts due to rapidly decreasing revenues.
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Old 01-12-2013, 10:02 AM
 
532 posts, read 1,401,667 times
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Quote:
Originally Posted by dontaskwhy View Post
Keep in mind that the laws vary state to state and city to city so there is no simple answer in every case.

In my city, unpaid property tax bills go to auction after the final due date every year. A home cannot be forced into foreclosure until after 3 years of unpaid taxes and in some cases it doesn't always go to foreclosure. Essentially the decision is up to the lien holder's discretion. It is this way in my area, but may differ in your area.

It's like the old saying, "In life, nothing is certain but death and taxes". Unfortunately, municipalities are getting desperate to collect on their outstanding debts due to rapidly decreasing revenues.
So it is lien holder who says you must sell your house to pay off what you owe them? Can you simply pay them the principal and any interest and be done with it?

BTW, can any individual buy these liens? Has anyone ever done it?
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Old 01-12-2013, 12:24 PM
 
Location: Ocala, FL
3,124 posts, read 5,795,656 times
Reputation: 2644
As long as the debt is paid with interest, the lien holder cannot force foreclosure in my example in my city. The unpaid taxes go to an auction where anybody can bid on them, at the auction bidders compete for the lowest amount of interest they are willing to accept. The lien can be sold to another investor and the homeowner would have to pay the current lien holder.

I did buy a tax lien on a property once at an auction, but the homeowner paid the amount with interest long before the property could have been foreclosed on.
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Old 01-12-2013, 04:11 PM
 
6,368 posts, read 7,406,609 times
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Quote:
Originally Posted by Karen59 View Post
So it is lien holder who says you must sell your house to pay off what you owe them? Can you simply pay them the principal and any interest and be done with it?

BTW, can any individual buy these liens? Has anyone ever done it?
Keep in mind that it depends ENTIRELY upon where you live. In Michigan, there are no tax liens. When people forget or neglect to pay their property taxes, after 2 years the property is foreclosed upon by the County with no redemption rights. We continually have stories of elderly people mistakenly not paying their taxes and losing their paid-off homes, only to be left homeless.
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Old 01-12-2013, 05:06 PM
Status: "if UNTHAW is a word ..i want to UN-AGE ," (set 5 days ago)
 
17,286 posts, read 22,345,431 times
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Quote:
Originally Posted by jackmichigan View Post
Keep in mind that it depends ENTIRELY upon where you live. In Michigan, there are no tax liens. When people forget or neglect to pay their property taxes, after 2 years the property is foreclosed upon by the County with no redemption rights. We continually have stories of elderly people mistakenly not paying their taxes and losing their paid-off homes, only to be left homeless.
that is sad...

ive seen title revert to the town/city after 2-3 years in maine...
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Old 08-30-2013, 10:22 AM
 
1 posts, read 1,149 times
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My taxes are due again and I only paid 50% of last years. What's going to happen?
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Old 08-30-2013, 10:50 AM
 
6,368 posts, read 7,406,609 times
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Quote:
Originally Posted by punababe808 View Post
My taxes are due again and I only paid 50% of last years. What's going to happen?
Your tax bills will continue to accumulate and interest and penalties will be added to your bill. Eventually, you'll be faced with losing your property. Check with your local authorities to see if there is any provision for a hardship exemption for all or part of your tax bill.
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Old 02-16-2014, 08:11 AM
 
5 posts, read 4,594 times
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Hi, we have a rental property in Prince George's county in MAryland. Apparently, our tenant did not give us the tax bills so we missed paying the tax for a year and a half until we got the attorney notice of for losing the house. What do we have to do? Do we have to call the lawyer's office and pay the entire bill or we have to go to the tax assessment office and settle the bills.Please we need guidance.
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