High taxes presenting serious problems
In the June 7 Times-Republican an 8-page section was needed to list all the properties with delinquent taxes.
They are holding a tax sale at the courthouse in an attempt to recover these unpaid taxes.
These sales generally draw several investment groups and a few individuals attracted by the large monthly interest that is charged and they receive on those delinquent taxes.
If the property owner doesn’t pay the taxes for three years and the buyer of these taxes continues to pay the taxes on the property they become the owner of this property. They also will have to pay the taxes on this property in the future.
With the large and frequent tax increases needed for the tax supported entities to continue their extravagant and lavish spending the ownership possibility is real. It makes this quick buck investment less attractive an perhaps not a quick buck.
I wonder with the recent requests for increases in property taxes how many pages will be needed to list all the properties in the future. Will the number of pages double or triple?
I do think that as these tax sales become less attractive to investors they will be able to hold the tax sale in a coat closet.
An investigative report in the Times-Republican is needed reporting how many seniors were taxed out of their homes this year to point out the serious problem these high taxes present.