(No Ratings Yet)
Loading ...TAX LIEN ON PROPERTY IN CONN.?
what is the sale potential on land if owner owes 6 months back taxes and has lien applied by local goverment???
details to conn tax question
example on 3000 dollars tax i pay to ct 2000 or balance of 1000 and lien applied to unpaid ballance ,,,can the city put the property up for sale
to collect 1000 dollars ??
see general statue 12-181
Posted in 
Tags: 4 Responses to “TAX LIEN ON PROPERTY IN CONN.?”
If the owner of the land does not pay the property tax for 2 years, a stranger is allowed to pay the entire amount of the back taxes. It is not a gift to the owner.
If the owner does not pay up for 3 more years, the person who paid the taxes can go to court and get the deed to the land. All mortgages are wiped out. That is why mortgage companies insist that taxes be included in most mortgage payments.
If the owner does pay up, the money is sent to the person who paid. The owner is also charged a huge penalty… 16% or more. That penalty is also sent to the person who paid the taxes.
So the stranger either gets the deed to the land or she gets her investment back plus 16%. Both are good returns on investment.
(Report comment)
The buyer would require the owner to pay back taxes,
In fact it is likely the LAW to do so
(Report comment)
Please explain what you are looking for in terms of "sale potential" – Eventually, the owner will either pay the back taxes or the municipality will auction off the property.
EDIT:
Just so you know, any property sold by auction under a tax lien is subject to a one-year right of redemption in which the original owner can pay the back taxes plus 18% and re-acquire the ownership of the property.
(Report comment)
A taxing agency can seize any property you own for back taxes if they follow proper procedures. Putting a lien on property rarely results in the taxing agency selling the property they simply will get first bit at the sales proceeds if the property is ever sold.
(Report comment)