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Updated over 7 years ago,
what are consequences of not paying property taxes on land?
Consider this scenario:
A seller is tired of paying property taxes on his vacant land. He doesn't care to keep this lot anymore. He gives it to you for virtually free of charge. Say he sells it for $1. It's now under your name. You try to sell it for a few months, and it doesn't sell. The property tax bill arrives. You decide not to pay for it. If you don't pay for it for a certain number of years, the County can put it on auction for sale. Say the property tax bill and penalties add up to $2000 at the time of the auction. Questions:
1) Can the County sue you for that amount if it's not sold at auction?
2) Will this affect your credit score?
3) What negative consequences can happen to you if you just simply walk away from a vacant lot that you have title to?