What Happens if I Don’t Pay My New York Property Taxes?
If you live in New York, and are behind on your home’s property taxes, you risk having your home foreclosed on. This can happen even if you are up to date on your mortgage payments or own your home outright. What Will My County Do If I’m Behind on My Taxes? In New York State, property taxes are collected semi-annually by your county. Each county has their own protocols about what to do with delinquent property taxes, but they usually follow a similar path. After a specific deadline, if you still haven’t paid your taxes, your county will issue a tax lien on your property. The county can then either keep the lien itself or auction it off to the highest bidder. Nassau and Suffolk Counties regularly sell off their tax liens to third-party investors. New York City, however, sells their tax liens to a trust called the NYCTL Trusts. Either way, you will now have to pay what you owe, plus interest, plus fees to the owner of your tax lien. If you still cannot pay the cost of th...