Help!! I'm losing my land to delinquent taxes

[OutHouse]

so you learned that you dont own you land you only rent it from the government.

 

[Wheezer]

Well, can you tell us a little about the land?

-Location
-How much? (are we talking a small lot or a few acres?)
-Wooded or non?
-suitable for building?

Depending on the location and type of land you may be eligible for a reduction in property taxes if there is no home on it and it is non-commercial.

Likewise if it is wooded I would seriously get with someone who timbers land for a living and have them asses your wood (*snicker*) to see what you can get out of it. But do not go with just anyone, do some research.

I made a nice chunk of change last year having some of my land timbered.

 

[Amused]

Originally posted by: waggy
well that sucks you couldnt/wouldnt keep up on them.

whiile i think everyone should pay there fair share of taxes i also think homeowners get a little extra screwing.

Do you think landlords pay their property taxes, or do you think they pass that cost along to the renters?

Everyone who lives somehwere, be it owning the home or renting, pays property taxes. The only people who don't are... landlords.

 

[DrPizza]

Originally posted by: Amused

Originally posted by: waggy
well that sucks you couldnt/wouldnt keep up on them.

whiile i think everyone should pay there fair share of taxes i also think homeowners get a little extra screwing.

Do you think landlords pay their property taxes, or do you think they pass that cost along to the renters?

Everyone who lives somehwere, be it owning the home or renting, pays property taxes. The only people who don't are... landlords.

Except when the property taxes are going up faster than you can reasonably raise the rent. *sigh*

 

[DrPizza]

Also, Arkitech, from what I understand, you DO NOT want the county to take your land. From my understanding, that's worse than a bankruptcy on your credit. You can declare bankruptcy and go out the next week & finance a home. If you lose a home, no one is going to touch you for a home loan. I would have sold the house I rent long ago to my tenant, but I refuse to do a land contract, and for that very reason, she cannot get financing. (ugly divorce mess - husband lost the home, her name was attached to it.)

 

[Perknose]

Originally posted by: dainthomas

Originally posted by: MagnusTheBrewer
Load up on ammo and declare yourself an independent free state.

Arkitechistan!

You could join Bush's Coalition of the Willing! There's several current vacancies.

 

[bctbct]

pics of the land with a naked women in the middle?

sorry, hope you get it worked out. If you have delinquet taxes there is probably a lien on the land that have will be satisfied before you can transfer ownership. Surely if you own several properties you can leverage a loan from somewhere. How much you talking?

 

[Sphexi]

If the land is assessed at 50k, sell for 34k and pay the 14k in taxes. You'll have 20k left, which is probably much less than you paid for it, but better than nothing at this point as you pointed out you paid cash. Re-invest that 20k somewhere else that doesn't require such a high annual fee and move on with life.

 

[DrPizza]

Why can't you get a secured loan using your equity in the land to pay off the taxes?? That would give you a bit more time to secure a buyer.

 

[Arkitech]

Well, after talking with a few people from out of state and a couple of other people I might be able to sell it. Nothing is in concrete yet and I probably won't get full value but something is better than nothing.

 

[IGBT]

..property taxes assure the state that we never really own land. Abolish property taxes.

 

[Alistar7]

Check with your county & state for laws covering your rights. A few have oddball ones, such as York County, SC. Any land sold to recover deliquent county tax is held in limbo for a period of one year after the winning bid. The original owner has that year to pay back the deliquent tax and retain the property. They must also pay the winning bidder interest based a schedule.

Ohio gives homeowners 30 days from the date of foreclosure to satisfy or bring the loan current. Check out all of your options before you sign anything.

I sent you a link via pm to an auction house that sells land, g/l.

 

[Arkitech]

Originally posted by: Alistar7
Check with your county & state for laws covering your rights. A few have oddball ones, such as York County, SC. Any land sold to recover deliquent county tax is held in limbo for a period of one year after the winning bid. The original owner has that year to pay back the deliquent tax and retain the property. They must also pay the winning bidder interest based a schedule.

Ohio gives homeowners 30 days from the date of foreclosure to satisfy or bring the loan current. Check out all of your options before you sign anything.

I sent you a link via pm to an auction house that sells land, g/l.

Thanks Alistar, that's a really helpful link and info. I'm going to look into the state laws, I think I heard something about a redemption period on properties sold for taxes.

 

[Savarak]

basically i'll pay the county all the taxes you owe on it, and they will take it from you. then they hold it for like 180 days, so you can try to pay me back + 20% annual rate and they'll return it to you. if you don't make it then the county gives me the land free and clear.

 

[dmcowen674]

Originally posted by: Feldenak
OP, you're an idiot for posting that here.

ATOT people do not go through financial difficulty, have perfect credit, and have recession proof jobs that they cannot get fired from.

BFT

 

[CrimsonChaos]

Help!! I'm losing my land to delinquent taxes

Originally posted by: Arkitech
if I sell it at a loss there might be a tax break involved there as well

Oh the irony...

Anyway, typically real-estate gains/losses are not included in your income, unless it was used as income property to begin with.

My advice -- do the right thing! Don't try to find a way to snake your way out of the situation you put yourself in through poor decision making.

 

[kranky]

Originally posted by: DrPizza
Why can't you get a secured loan using your equity in the land to pay off the taxes?? That would give you a bit more time to secure a buyer.

This.