HOW THE TAX LIEN SALE WORKS
All counties depend upon receiving property tax revenue to continue providing sheriff, fire, schools and other services for county residents. When a resident doesn’t pay their property taxes, the county cannot pay for these services. Therefore, in order to get the funds to provide these services the county puts a lien on all properties with unpaid property taxes, and puts that lien up for sale at an auction.
Hundreds of investors bid on properties at this Tax Lien auction, many times bidding close to the value of the property (anticipating that the resident will pay their taxes within the next year and the investor will get their investment back with interest). The county uses the money from the investors to cover the property taxes not paid by the resident (so that they can continue providing sheriff, fire, schools and other services).
The county gives the resident an additional 12 months to pay their taxes after this Tax Lien auction, sending additional reminders via certified mail. If the taxes are not paid within 12 months, the county forecloses on the property and gives the deed for the property to the investor.
If you received a Delinquent Tax Lien Notice from us: This means you have not paid your property taxes for the last two years and the county has now given the deed for your property to us.
We would have preferred that you paid your taxes on time to avoid this difficult situation. Since we want to get our investment back with the expected profit, you are required to immediately make arrangements to purchase the property back from us or begin paying rent. Please email Info@LexingtonCommunities.org or call 803-386-1558.
If you believe the county transferred your deed in error, please contact them directly.
