We haven't paid our House taxes for three years since we moved in. We live in California. We cannot afford to?

Question

pay them with our mortgage so high. If we forclose on our property what will happen? We bought our home for 625,000 now it is apprased for less that 450,000. What should we do?

Answer 1

Contact your county tax assessor's office and have the re-access your home.  Your property taxes are based on the purchase price, now that it has a lessor value, you should pay less taxes.

This won't help your previous taxes, but it will lesson your future taxes.

Answer 2

In the states I work in, the county will give you about three years of non payment, then start tax foreclosure procedures. Listen to the tax pro, she's right.

Answer 3

Government always has a first position on whatever proceeds are available from your property. Your mortgage holder comes second. You come last.  

Answer 4

See if your mortgage company will take a short sale.  If not, see if they  the will do a deed in leui of foreclosure.  Then contact the tax people in your city and see if they will take payments on your back taxes.  

Please ignore all the rude remarks some of these perfect people are making.  They don't know your situation, maybe you were laid off?  Maybe a family member got sick?  I hope not, but it could happen and these people have no right to judge others.  I wish you the best.  

Answer 5

I hope you plan to never sell your house.  Because when you sell your house you will have to pay all the back taxes PLUS interest and penalties (usualy 20% or more of the actual taxes you didn't pay).  They'll be added as liens to your home... if they pile up too high, the county could reposess your house as collateral for back taxes.  Or they could put holds on all your checking and savings accounts, so that as soon as you deposit money into them, they'll take it right out as payment.

It appears you bought a place you couldn't afford... just like every other American.

Answer 6

Your county will sell your property for back taxes, if it hasn't already done so.

You need to check this out carefully, and not just here

You are upside down on your mortgage and 3 years in arrears on your real estate taxes--YOU have dug yourselves a deep hole.  You started by buying a home you obviously couldn't afford since you've Never paid your real estate taxes, even before your mortgage could adjust upwards.

TALK to your lender and find out what options are available to you

The new bail-out for borrowers like you who overextended themselves was signed into law

You have made some poor choices and may have to walk away from this home as you got yourselves in way over your heads. . . .that is one of your options with your lender, doing a Deed in Lieu of Foreclosure, doing a Short Sale, going all the way through foreclosure, or working something out. . . .it will require many sacrifices by you two, and downsizing your lifestyle to keep this home

Answer 7

Your local tax assessment office probably has a procedure for you to dispute the value they give your house.  Call them and tell them you're broke and the house is falling apart and ask for help.