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In this post we take a look at the history of tax liens and tax deeds. Few people know how it all came to pass, but it's really quite simple.
It is widely known that the forefathers of this country made the treacherous journey to American to escape the government rule of several European countries. Along with religious freedom, they sought to escape a tax system that provided taxpayers with very little protection. In England three hundred years ago, a property owner that was delinquent in paying their property taxes would most likely lose the property altogether. People were thrown into jail for not paying their taxes all of the time. Our current tax system was implemented early in the history of the country. The system's objective was to enforce property taxes in an effective manner while still offering property owners a fair chance to settle their debts.
Today property owners are given a grace period following the date taxes are due. This grace period is referred to as the redemption period, or time in which the property owner may redeem all property rights and remove the impending tax lien. The duration of the grace period is set by state statute, and ranges from 3 months to 4 years. Most property owners have three to five years without paying their property taxes before losing a property.
The Tax Lien and Tax Deed Investing systems in use today are a testament to the great thought and planning that went into the fair collection of property taxes. They were determined not to repeat their past experiences with taxation without representation.
Today, property owners enjoy the peace of mind that if they are late paying their property taxes they won't be sent immediately to jail or lose their property to Foreclosure.
No Risk Investor is the ultimate resource and tool for tax liens, deed, and real estate investors all over the world. No Risk Investor takes incredible pride in its ability to help students take action, get into properties, and begin the journey to financial freedom. No Risk Investor provides county lists, property lists, online auction lists, comprehensive training and education, an auction calendar, and online auction center, an investor community and much more for its members.
Last modified on Monday, 28 June 2010 09:00
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Tax Deed Investing
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