5KidzRUs Posted February 17, 2011 Share Posted February 17, 2011 Anyone know what the time-line is on nonpayment of property tax? A person who owns millions of dollars, on about 20 properties in our county, did not pay this week on any of his properties. This 'church' reverend moved into our town a few years ago. This church sets up near military posts all over the US. They (he) bought up property all over town including in my neighborhood. I (and some of my neighbors) have had to go to the equalization board and fight for my house not to be appraised at nearly twice what it was worth. I finally told the board that if it was worth that then they could buy it! They (the board) admitted to me that what the church was doing affected my tax and they tried to take out the church-houses from the equation when factoring in taxes. After I appealed they did lower their value of my house. Our real estate agent would not talk a lot about what was going on, but handed me an article about a real estate scam where properties are bought/sold/bought to make money and last man holding walks away. There have been rumors of an investigation going on for a few years now and undercover agents did come to my house and ask me for information on them. True story - crazy hm? I am hoping that not paying the taxes means their game has run its course and they are moving on. How long can they continue after not paying their property taxes? Quote Link to comment Share on other sites More sharing options...
Tap Posted February 17, 2011 Share Posted February 17, 2011 (should that read... owes millions?) I don't know, but my concern would be that these houses would go up for auction, be sold at a fraction of the value, which in turn would drop the property value of the surrounding homes. If any legit homeowner goes to sell their own home, the auction sales could be used for 'comparable house sales' in the area, and create a false, low appaisal value. :glare: Why was he buying all the houses/properties? Quote Link to comment Share on other sites More sharing options...
KidsHappen Posted February 17, 2011 Share Posted February 17, 2011 Unfortunately it could actually be years and then there would be a foreclosure and auction all of which could seriously lower your property value. Don't ask me how I know. Sorry. I hope it works out better than that for you. Quote Link to comment Share on other sites More sharing options...
Guest Culbert Posted February 17, 2011 Share Posted February 17, 2011 A person that have lot of property but not paying the tax is a very sad situation for him , he has no right to stay at the place where he is living. Tax authorities has the right to lien on the houses if tax payers not paying the tax for many years. The results are not always in favor of person who not pay the tax . Quote Link to comment Share on other sites More sharing options...
LisaKinVA Posted February 17, 2011 Share Posted February 17, 2011 (should that read... owes millions?) I don't know, but my concern would be that these houses would go up for auction, be sold at a fraction of the value, which in turn would drop the property value of the surrounding homes. If any legit homeowner goes to sell their own home, the auction sales could be used for 'comparable house sales' in the area, and create a false, low appaisal value. :glare: Why was he buying all the houses/properties? Auction and foreclosures are not supposed to be used for actual appraisal comps (they do sneak in from time to time... my neighbor's house that was foreclosed was used as a "sold" comp in our appraisal, I caught it and informed the bank and appraisal company, then submitted a list of new, non-foreclosed homes that had sold in the last 6 mos. that should be included...)...but if an area is saturated, they still affect the prices of the homes, because the listing price is in the minds of buyers as a comparable. Quote Link to comment Share on other sites More sharing options...
5KidzRUs Posted February 17, 2011 Author Share Posted February 17, 2011 It never occurred to me that there would be a negative impact if all the properties were foreclosed on. Quote Link to comment Share on other sites More sharing options...
DarcyB Posted February 17, 2011 Share Posted February 17, 2011 It took about 2 years for the city to take my brother's house for non payment of city property taxes. This same house had a lien from the US gov't for nonpayment of federal employment taxes for years and years. So cities tend to move a lot faster than the federal gov't, but it still won't happen overnight. Quote Link to comment Share on other sites More sharing options...
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