Although there is truth to paying back taxes to own a home, it is not as simple as it may sound. Most homes that are being auctioned in this manner will have several people competing for it which will drive the home cost above the tax value and closer to its retail value.
No, just for the time you owned it.
Yes. Just as you would pay property taxes on any property that you own.
yes. you still have to pay property taxes every year. And the "gift" of something in the form of property, or service, or whatever, is INCOME just like any other circumstance. What you call it or the form it takes makes no difference.
Could depend on where you live. It seems that here in Texas you can, indeed, buy a house by paying off the back taxes. However, there is a lengthy preliminary legal process which must be followed. rdg
i just found out that i had to pay back this year for federal taxes i just madew an offer and it was aceppted so is can i still get my va loan for a house i was already pr quailtfied by my lender before i did my 2012 taxes
Sure you can just after you pay the taxes you owe. I assume that a tax lien has been placed on the property by the State of Georgia or the County where it is located. This is similar to having a mortgage on a piece of property. Unless the bank isn't getting paid neither are you.
once it is your turn than you are able to unmortgage your property the price for your mortgage house will be on the back of the card and if there are any other problems just read the instruct book.
Having 501c status is relevant to income taxes. It may, or may not make th real property owned non taxed. That depends on each little taxing jurisdcition.As long as your Property is listed as taxable, it is (or was) and the church owes the tax...or the community it is in should/will/can/must seize the property and sell it for back taxes just like any other.
Yes ... the taxes are not "forgiven" just because the house got placed on the auction block. But with that fantastic price you got that house for, surely paying the back taxes will be a piece of cake.
Because of taxes, yes....unless you have money to pay the taxes on it (one of them is the inheritance tax)That's in the United States, not sure about other places
None. California just has high TAXES. We have the highest sales taxes, the highest state income taxes, and our property taxes are in the top third. Businesses are fleeing California as fast as they can.
Sure...but getting a mortgage will be tough, if not impossible. And the tax man will be just as happy to seize the house for your debt as they will anything else. Your tax debt can be used as income/debt ratio. Just make sure you are paying off your taxes and not delinquent