How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Merlo Your Own Question

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
9573734
Type Your Tax Question Here...
Merlo is online now
A new question is answered every 9 seconds

are back taxes owed if the town (in CT) either condems or forcloses

Resolved Question:

are back taxes owed if the town (in CT) either condems or forcloses on commercial property
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.

Hello willie,

 

Yes, property taxes are still due regardless of whether or not a property is condemned or foreclosed. Generally if the taxes are not paid by the owner, the county will place a lien on the property which must then be paid either by the lending institution that initiated the foreclosure or by the new owner if the home goes into a foreclosure sale.

 

While the county will still continue its collection attempts against the owner, generally the debt will attach to the property if the owner has not paid the back taxes that are due, and the lien will not be released until the taxes are paid.

 

 

Thank you.

 

Customer: replied 6 years ago.

what happens after the town takes posession of the property

 

Customer: replied 6 years ago.

what happens after towns forgloses on property. is there any way to get out of the taxes if you cann't pay them?

 

Customer: replied 6 years ago.
what happens after the town forcloses on the property? Are the taxes still due? and is the any way of getting relief if you have no way of paying them?
Expert:  Merlo replied 6 years ago.

Hello again willie,

 

No, unfortunately the tax debt will not just be forgiven. But as I said in my first post, generally a property tax debt will follow the property itself more so that the owner. So if you cannot pay the taxes, the county will likely place a lien on the property once it goes into foreclosure. When that happens, then when the home goes into a foreclosure sale, the tax debt will be paid by either the bank or the new buyer of the property as part of the purchase. At that point in time, you would be relieved of the debt.

 

 

Thank you.

 

Customer: replied 6 years ago.
what happens if there is not enough equity left to pay off the balance or if the property is comdemmed. this is commercial property.
Expert:  Merlo replied 6 years ago.

Hello again willie,

 

If there is not enough equity to pay off the loan balance then the property will go into foreclosure either way, regardless of whether or not the property is condemned. If the current property owner has not paid some of the taxes then a lien will be placed on the property.

 

Even if the property is condemned you have to know that at some point in time it will be sold, even if the new buyer is strictly going to bulldoze the building and build something new in its place. Condemning the building does still not take away the value of the land. At the time of the sale, the lien will have to be paid by either the bank or the new owner if the taxes are still outstanding at that point in time.

 

If this has been helpful please press the Accept button. Positive feedback is also appreciated.

 

Thank you.

 

Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Merlo and 10 other Tax Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
< Last | Next >
  • http://ww2.justanswer.com/uploads/KU/KUMI95/2013-9-30_195031_kumar.64x64.jpg Wallstreet Esq.'s Avatar

    Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
  • http://ww2.justanswer.com/uploads/CU/Cuttinggirl/2011-10-29_03719_wcrop2.64x64.jpg Wendy Reed's Avatar

    Wendy Reed

    Enrolled Agent

    Satisfied Customers:

    3052
    15+ years tax preparation and tax advice.
  • http://ww2.justanswer.com/uploads/CATax/2009-08-04_204548_Mark.jpg Mark D's Avatar

    Mark D

    Enrolled Agent

    Satisfied Customers:

    985
    MBA, EA, Specializing in Business and Individual Tax Returns and Issues
  • http://ww2.justanswer.com/uploads/IN/insearchoftheanswer/2013-8-16_0233_attorney.64x64.jpg Richard's Avatar

    Richard

    Tax Attorney

    Satisfied Customers:

    3229
    29 years of experience as a tax, real estate, and business attorney.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    6121
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JG/jgordosea/2012-6-7_43138_GordosVeritas.64x64.jpg jgordosea's Avatar

    jgordosea

    Enrolled Agent

    Satisfied Customers:

    2783
    I've prepared all types of taxes since 1987.
  • http://ww2.justanswer.com/uploads/OZ/ozaukeecpa/2012-6-7_193219_Picture1croppedandshrunk.64x64.jpg MequonCPA's Avatar

    MequonCPA

    Certified Public Accountant (CPA)

    Satisfied Customers:

    2231
    CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
 
 
 
Chat Now With A Tax Professional
Merlo
Merlo
9646 Satisfied Customers
25+ years tax consulting. Specializing in returns for US citizens living abroad