What tax liens really mean in Colorado

Variances in the law from state to state cause confusion regarding tax liens and how they work as a mechanism to ensure that tax authorities are fully funded while protecting the private property rights of individuals.
In Colorado, tax liens provide a viable solution to residents who are struggling financially with potentially losing their home. Investors purchase a tax lien, not the property. Investors loan the money to pay the taxes. The property owner, the investor and the community all benefit. Taxing authorities are fully funded, ensuring services such as fire, police, roads and schools.
In Colorado, one is more likely to be struck by lightning than lose one's home to a tax lien investor.
Douglas County sells approximately 1,275 tax liens annually, yet has has issued only four treasurer's deeds involving a structure over 14 years. Two may have been occupied, one was a carport, and the fourth was a cabin on public land.
Arapahoe County sold 20,000 tax liens over the past 11 years, yet has issued only 11 treasurer's deeds (condition and occupancy unknown).
Jefferson County sells about 2,087 tax liens annually, and has issued only five treasurer's deeds involving a structure. Those were: an uninhabited, boarded-up, four-unit multifamily dwelling; a home that had to be gutted due to excessive animal waste; a mountain property crushed by a tree; a dwelling scheduled for demolition by the city, once the wild animals were removed; and one which housed an occupant whose family was unwilling to help her maintain her residence.
Weld County sells an average of about 4,000 tax liens a year. In the past 30 years, it has issued only four treasurer's deeds on improved property (condition unknown).
Pueblo County has issued only 17 treasurer's deeds with improvements over the past 19 years. All were uninhabitable or the owners were uninterested in keeping the property.
Broomfield County has never issued any treasurer's deeds on property with structures.
Rio Blanco County issued one deed in 12 years which contained a structure and was condemned for health reasons.
Rio Grande County has no record of a treasurer's deed being issued.
Ouray County has issued one on a property unoccupied since 1985.
Lincoln County transferred six properties with structures on them in the past 11 years. Most did not contain any humans, doors or windows.
Phillips County transferred five properties by treasurer's deeds with improvements over the past 10 years. They were uninhabitable (unless you count the 125 cats), and the others were already condemned.
Colorado Revised State Statute 39-11-120 protects owners by allowing a treasurer's deed to be issued only after a minimum of three years has elapsed since the purchase of the lien certificate. Less than a quarter of 1 percent of all properties have their liens sold at a tax lien sale. Of that number, less than one in 1,000 are transferred by a treasurer's deed. Of that remaining number, only a small fraction are for properties with houses on them — and most of those are not habitable.
Seniors and active-duty military are able to take advantage of a property tax deferral program, which provides funds to qualified applicants to pay their property taxes. Seniors also get tax exemption during years when the legislature can fund it. County treasurers act as a dispassionate third-party mediator between the taxpayer and taxing authorities — to serve citizens, not evict them.
Tax lien investors are typically our neighbors who care about our communities and are looking for a reasonable return on their investments.

Read more: http://findapropertytaxlawyer.com/

More Than 2,000 File Property Tax Appeals

GEORGIA -- About 4.6 percent of the 52,300 landowners who received property assessment notices in
May filed appeals by the July 7 deadline, according to Sandra Ferguson, Carroll County chief appraiser.

“We had 2,420 appeals filed,” Ferguson said Monday. “Last Friday, we mailed out new values to 355
taxpayers. They have 30 days to accept the value or appeal it to the Board of Equalization.”

This compares with about 1,800 appeals filed last year.

She said in 122 cases, the board of assessors reviewed the appeals and felt there were no changes to be
made. These were sent on to the Board of Equalization, she added.

“Last year was the first year we mailed assessment notices to everybody,” Ferguson said. “We figured
we would have more appeals this year since some people weren’t aware of what it was last year.”
Please visit FindaPropertyTaxLawyer.com for more information

School Budget Would Raise Property Taxes, Empty Reserve Fund

CHICAGO, IL -- Chicago Public School officials have unveiled their budget plan for next school year, seeking to fill a $665 million deficit with a property tax hike, personnel cuts and some one-time revenue.

WBBM Newsradio Political Editor Craig Dellimore reports the spending plan tops out at about $5.2 billion.

CPS Chief Administrative Officer Tim Cawley said the plan would maintain existing class sizes, and allow principals to decide how to use their additional funds.

“I think the biggest thing about this budget is that it in times of fiscal crisis, with declining revenues two years in a row, we’ve managed to be able to continue to invest in things that we think are going to improve student outcomes,” Cawley said.

It includes a $62 million property tax hike and $144 million in administrative cuts.

The plan also raised some eyebrows, by seeking to drain the district’s entire $432 million in reserve funds.

How my residential property is valued

State law requires that county assessors appraise all property at 100 percent of its true and fair market value in money, according to the highest and best use of the property. Fair market value or true value is the amount that a willing and unobligated buyer is willing to pay a willing and unobligated seller. The county assessor values real property using one or more of three professional appraisal methods.
Real property includes land, improvements to land, structures, and certain equipment affixed to structures. Personal property includes furnishings, machinery and equipment, fixtures, supplies, and tools. The primary characteristic of personal property is its mobility. Personal property tax applies to personal property used when conducting business or to other personal property not exempted by law. Most personal property owned by individuals is specifically exempt. However, if these items are used in a business, personal property tax applies.
For more information on how your residential property is assessed and valued see A Homeowner's Guide to Property Taxes (pdf) or other information at Find a  Property Tax Lawyer.

ND Lawmakers Eyeing Property Tax Subsidies

 North Dakota's budget reserves keep growing, and state lawmakers say there will be lots of suggestions in the next Legislature about how to use the money.

House Democratic leader Jerry Kelsh says the Legislature needs to strengthen its existing program of providing money to reduce local property taxes.

Several lawmakers are suggesting some of the value of residential property should be exempted from property tax.

House Republican leader Al Carlson says some schools need help with soaring enrollments. He's expecting proposals to reduce property taxes and spend more on road repairs.

House Appropriations Committee chairman Jeff Delzer says the Legislature can use surplus cash for public works improvements.

North Dakota's budget office says the state should have $2 billion in reserves within a year. Delzer says those numbers could change. 

To read more about Lowering your property taxes please visit: http://findapropertytaxlawyer.com/index.php.

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