What is tax lien foreclosures?

Tax lien foreclosures are a process under Florida property tax law that occurs when a homeowner defaults on their property taxes. When a homeowner does not pay their taxes for more than two years, the taxing authority (usually a county or municipality) places a lien on the property. This lien allows the taxing authority to foreclose on the property to collect the unpaid taxes. A tax lien foreclosure begins with the taxing authority issuing a final warning or a demand for payment. This typically allows the homeowner an opportunity to pay the overdue taxes and avoid foreclosure. If the taxes remain unpaid, the taxing authority will move forward with the foreclosure process. This may be done through legal action in court or through a nonjudicial foreclosure. During the foreclosure process, the taxing authority may sell the property in an auction to the highest bidder. This buyer’s bid is typically lower than the amount of the unpaid taxes, as the buyer is taking on the risk that the unpaid taxes may never be paid. The taxing authority will then use the proceeds of the sale to pay off the overdue taxes. The foreclosure process can be lengthy and expensive, and is something that no homeowner should take lightly. If you cannot afford to pay your taxes, contact your local taxing authority to discuss your options. If you are a victim of a tax lien foreclosure, contact a lawyer for assistance.

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What is tax lien foreclosures?

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