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They don't. The property would be sold at auction just like tax foreclosed properties are now sold at auction.
by syops 5y ago
They don't. The property would be sold at auction just like tax foreclosed properties are now sold at auction.
- chrisseaton 5y agoWhy would you buy a location that the previous owner had to sell because it came with a crippling tax burden and no source of income?
- syops 5y agoWell, presumably because you could buy it at a price that made the investment feasible. That price could be $1. Maybe the land truly is worthless. In which case the auction is for nought. Then the community might decide to form a small playground for the plot of land or a community garden. Maybe the land could be used for housing instead of for commercial purposes.