The taxing authority (city or county, generally) maintains a list of all the property in tax arrears. Once a year, there is an auction where they go around the room and each bidder can bid a rate for each property; the lowest rate wins a coupon that entitles the bearer to collect the tax plus the rate from the property owner, but requires the bearer to pay the base tax to the taxing authority.
If a few years go by without the property owner retiring the debt, the holder can send a notice with some time requirements and after that, they can sue for the title and then they own the property. Usually the owner pays at the last moment but then they owe attorney's fees.
Adverse possession is completely different and would require living in the tax-delinquent property for several years.
Whole problem is likely the value of the land is less than taxes owed. So any system where county is HAS to get the taxes owed means no one will touch the property.
singleshot_|4 months ago
The taxing authority (city or county, generally) maintains a list of all the property in tax arrears. Once a year, there is an auction where they go around the room and each bidder can bid a rate for each property; the lowest rate wins a coupon that entitles the bearer to collect the tax plus the rate from the property owner, but requires the bearer to pay the base tax to the taxing authority.
If a few years go by without the property owner retiring the debt, the holder can send a notice with some time requirements and after that, they can sue for the title and then they own the property. Usually the owner pays at the last moment but then they owe attorney's fees.
Adverse possession is completely different and would require living in the tax-delinquent property for several years.
stackskipton|4 months ago