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If you don't pay property taxes on a house you own outright, the local govt can and does seize it. Repossessed isn't the right word but in the end, it would be
by michaelbuddy 12y ago
If you don't pay property taxes on a house you own outright, the local govt can and does seize it. Repossessed isn't the right word but in the end, it would be resold and the gov't would make more money from it as well as new annual cycles of taxes. If you buy property and squander it or not keep it up to zoning regulations you can also lose property you own to the local govt. It's not repossessed by a bank, it would be more like a land seizure.