Have you ever fallen behind on property taxes and thought, “what’s the worst that could happen?” Well, in some states, the worst is pretty bad. A new report reveals that 12 states in the US have laws allowing them to seize your home if you’re delinquent on your property taxes. Though this authority is rarely used, homeowners who are already struggling to make ends meet could be in for a rude awakening if they don’t prioritize their property tax payments.
The report, highlighted by MSN Money, was released by the National Consumer Law Center and reveals which states have the harshest property tax delinquency laws. The 12 states that allow tax collectors to seize properties for delinquent taxes are Connecticut, Illinois, Iowa, Kansas, Maine, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, Rhode Island, and Vermont.
The report points to cases in which homeowners have had their homes sold off for a fraction of their market value because they were unable to pay their property taxes. This is especially concerning for those who rely on their homes as a primary source of income or have built equity in their homes over time.
Though the report acknowledges that these cases are rare, it’s still an unsettling reminder that not keeping up with property taxes can have serious consequences. For some, relief may be available in the form of property tax assistance programs, but it’s worth doing thorough research and staying on top of your tax payments to avoid any potential issues.
In short, falling behind on property tax payments can have serious consequences in some states. Homeowners should be aware of their state’s property tax delinquency laws and prioritize staying current on their payments to avoid any potential issues down the line.
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