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Old 04-18-2008, 07:42 AM
 
5,102 posts, read 13,030,678 times
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Quote:
Originally Posted by golfgod View Post
I don't know of any state that doesn't have a procedure (tax sale/sherrif's sale) for taking the property for non-payment of taxes. In fact, even in the states that have strong "homestead" provisions, TX, FL, (CA?) the house can be taken for non-payment of purchase money mortgage and ad-valorem taxes.

As for sean's post, if you can't afford your taxes, no one is going to allow you to borrow against the house, except on a "reverse" mortgage, and they're almost always a rip-off.

golfgod
Is it a "rip off" if someone gets to keep their home AND derive much needed cash flow when they are house rich and cash poor??

And why "almost always"...
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Old 04-18-2008, 07:48 AM
 
26,988 posts, read 43,301,931 times
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As far as I have heard are in different States also different levels of property taxes. Here in Florida it is pretty high, but every home owner should know that before buying.
To me it is very bothering to see a neighbor who hasn't paid the property taxes, stopped paying the mortgage almost a year ago, and drives a pretty new mercedes, doesn't work although is healthy and use to work as arealtor, but is too lazy to do something else. This person is not the avarage person, we as neighbors are aware of it, but for this family to live for free and we all are paying everthing and see them driving in this expensive car and buying the latest gadgets but not paying the rest if too much for us. By the way this is the 3rd lis pendens in 10 years that this person has. So to me a con artist!! How is this possible?
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Old 04-18-2008, 09:56 AM
 
432 posts, read 1,797,796 times
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Quote:
Originally Posted by K-Luv View Post
This may have been already been covered. If so, just link me to it

Anyways, I was curious as to what would happen if you either paid for a house in full or paid off your mortgage but then found yourself in a position to where you couldn't afford the property tax?

Would you be forced to sell your home?

What rights would (d0) you have?

Welcome to New Jersey.
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Old 04-19-2008, 10:05 AM
 
Location: The Woods
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You don't own the property in most of the U.S., the corporation(s) (the local and state governments) own it, you are essentially renting it from them. You can only get true ownership in a few areas. In Texas, you can buy an allodial title to the property (it's expensive as they estimate what they would be losing in taxes and charge that). It was possible too in Nevada until around 2005 as well, but not right now, they put a moratorium on it, and who knows when or if that will change. In Alaska, in the unorganized borough, there are no property taxes, and the area is not incorporated at the moment. That could change, but is highly unlikely in some unorganized parts in the near future (such as the area within the Yukon-Koyukuk area). So with those few exceptions, you rent your property from the government. And you'll lose it if you can't pay, eventually. Some places (VT for example does, I don't know about other states without checking) have a process to get out of paying the taxes owed to avoid this, but it is at the discretion of the officials, and rarely done, it's not intended to routinely exempt people who can't afford the taxes.
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Old 04-19-2008, 01:32 PM
 
Location: Barrington
60,371 posts, read 41,283,215 times
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In Illinois, it dpends upon the county. In my county:

A Senior Exemption reduces the assessed value ( insignifiacant)

Qualifying seniors can apply for a freeze on assessed values with caps. ( better)

Very new is the ability for qualifying seniors to defer their property taxes until the home is sold. ( best)
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Old 04-20-2008, 09:38 PM
 
523 posts, read 1,347,879 times
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Quote:
Originally Posted by arctichomesteader View Post
You don't own the property in most of the U.S., the corporation(s) (the local and state governments) own it, you are essentially renting it from them.
I find this fact both enlightening and very amusing. To find out that all of the "homeowners" are nothing more than glorified renters from the state, that is very funny indeed. On a more serious note, it really makes you think...
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Old 04-21-2008, 05:11 AM
 
Location: The Woods
17,905 posts, read 24,366,510 times
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Quote:
Originally Posted by mojo_1979 View Post
I find this fact both enlightening and very amusing. To find out that all of the "homeowners" are nothing more than glorified renters from the state, that is very funny indeed. On a more serious note, it really makes you think...
Well, what else can it be called? And look at the charter of any given municipality, it'll say in some way "the property of _____(the municipality) is...." Quite clearly states whose property it all is. Want to add on to "your" house? Go get the owner's permission, in the form of a permit. Want to live in a building you built? You need the real owner's permission (certificate of occupancy or the equivalent in your area). Hard to argue you actually own it with all of this in mind. YOu only own it if you have allodial title, and that is simply not possible in most of the U.S. A brief write-up on allodial title (there are better sources of info. though if anyone wants more info. for themselves): Allodial title - Wikipedia, the free encyclopedia Modern day feudalism really, with the state as lord, and I find it all quite disgusting...
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Old 04-22-2008, 01:13 AM
 
27,784 posts, read 58,448,282 times
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Quote:
Originally Posted by arctichomesteader View Post
Well, what else can it be called? And look at the charter of any given municipality, it'll say in some way "the property of _____(the municipality) is...." Quite clearly states whose property it all is. Want to add on to "your" house? Go get the owner's permission, in the form of a permit. Want to live in a building you built? You need the real owner's permission (certificate of occupancy or the equivalent in your area). Hard to argue you actually own it with all of this in mind. YOu only own it if you have allodial title, and that is simply not possible in most of the U.S. A brief write-up on allodial title (there are better sources of info. though if anyone wants more info. for themselves): Allodial title - Wikipedia, the free encyclopedia Modern day feudalism really, with the state as lord, and I find it all quite disgusting...
Thanks for the link... I never knew how to spell Allodial to research it
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