Tax Foreclosures

North Carolina Property Tax Relief: Who Qualifies?

Do you have a loved one in North Carolina struggling with property taxes? Well, some North Carolina homeowners qualify for one of three programs offering property tax relief. You might want to look into this for them.
Low-Income Homestead Exclusion
Qualified low-income homeowners can apply for property tax relief through the State of North Carolina at their Assessor’s Office between January 1 and June 1 each year. Qualifying homeowners receive an exclusion of the taxable value of their residences of either $29,500, or 50 percent (whichever is greater).
Disabled Veterans Homestead Exclusion
Honorably discharged veteran homeowners, certified by the U.S Department of Veterans Affairs or another federal agency as having a service-related permanent and 100 total disability also qualify for property tax relief. Plus, surviving, unmarried spouses of these veterans also qualify. The State of North Carolina excludes the first $45,000 of assessed value from property taxes in this situation. There is absolutely no age or income requirement for this tax relief.
Property Tax Deferral for Disabled or Elderly Homeowners
If disabled or elderly residents in the state have income that doesn’t exceed 150 percent of the income eligibility limit for Homestead Exclusion, this tax deferral is another option. They must apply and elect to defer the portion of their taxes every year. It doesn’t actually reduce the taxes owed, but it does postpone to due date. Some choose to postpone the due date until they sell their home down the line. Not every disabled or elderly homeowner will qualify though.

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Fulton County Tax Foreclosure Sales (and How to Find Them)

In the state of Georgia, it’s legal for the government to seize property, such as homes and land, for the nonpayment of taxes.

According to the Georgia Department of Law, a homeowner’s obligation to pay property taxes is backed by the property itself.

If a homeowner fails to pay, the county tax commissioner can sell the home to raise the amount due back in taxes. Often these homes sell for exceptionally low prices—but how does the whole process work?
How Does a Property Get Seized?
When a homeowner’s property taxes are past due, the tax collector can proceed through a non-judicial tax sale or a judicial tax sale. (The former doesn’t go to court, but the latter does.)
Non-Judicial Tax Sales in Fulton County
After the tax commissioner warns the owner and the payment deadline passes, the commissioner turns the case over to the sheriff’s department, issuing a writ of execution. The writ orders the sheriff to sell the property at auction to the highest bidder in what’s known as a sheriff’s levy and sale.

The sheriff must send out written notice and publish an official Notice of Sheriff’s Sale in the Daily Report.
Judicial Tax Sales in Fulton County
A judicial tax foreclosure sale, which is less common than a non-judicial tax sale is, requires the tax commissioner to go to court. The tax collector can take action exactly one year after the property taxes are due.

You’ll find properties up for judicial tax for closure sales in the Daily Report, as well.
Where to Find Tax Sales in Fulton County
Many REIs use the Daily Report’s online “Public Notices” section to find information on affordable properties that may actually be gold mines.
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