How Long Can Property Taxes Go Unpaid In Onondaga County?
Are you in a situation where you are unable to pay your delinquent property taxes in Onondaga County?
If so, we want to let you know that you are not alone.
There are thousands homeowners who find themselves in this situation, due to several variables where they are unable to make their tax payment.
Unpaid property taxes can become a hassle for homeowners because if you fail to make this payment in full or get on a payment plan with the county, they have the right to seize or foreclose on your property for the lack of payment.
This process is somewhat similiar to failing to pay your mortgage but instead of the bank foreclosing on you, the city will take the initiative to recoup the funds owed to them for the tax delinquency.
The issue is, when Onondaga County decides to seize the property, the homeowner will receive no money from the seizure of the property and you will take a hit to your credit.
When Will Onondaga County Seize My Property For Unpaid Taxes
A big question among homeowners who have unpaid taxes on their home is, how long does it take for the county to take my property?
After working through this situation with several homeowners in the area it is hard to say.
I have seen situations where the city may take 5-7 years to act and I have seen scenarios where they take action after 2 years.
If you call the Onondaga County Property Tax Department, they will tell you "We take action after 2 years of unpaid property taxes. We will send the homeowner a 60 day notice and then a 30 day notice".
Understand this, this is complete unpaid property taxes for 2 years. If the homeowner makes any payment towards this total, using a pre-payment plan then the seizure date will be pushed back.
Since the creation of the Land-bank, Onondaga County has been more stringent on acting on the 2 year guideline.
The county uses the Land-bank to acquire these properties that are delinquent in taxes and uses this entity to resell these properties.
With the Land-bank in place, the county has an easier method to recoup their funds and possibly make a profit depending on the condition and location of the property.
Wrapping Up | How Long Can Property Taxes Go Unpaid In Onondaga County?
The county is beginning to crack down on homeowners who have failed to pay their property taxes for 2 years. When the county decides to "foreclose" on your home and move forward with the process, a lien will be placed on your home which can cause a pretty severe credit hit. This will remain on your credit score for up to 10 years. The county will report this lien to all 3 of the credit bureaus which will trigger this credit affect.
So if you find yourself in this situation, you need to act promptly. You do not want to give your property to the city for unpaid taxes and take a severe hit to your credit. There a few options. You can get on a pre-payment plan with the county, which will require a down payment of 25% of the total amount and monthly installment payments for 2 years (if you fail to make these payments, you will be required to pay this total in full).
The second option you have is reach out to HS Property Funds. We will give you a fair offer on your property, you will leave the deal with some extra cash and you will not take a hit to your credit.
HS Property Funds
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