To: The California State House
Foreclosure property tax
Foreclosing institutions will, upon the date of foreclosure on any properties, pay any and all outstanding taxes on the property. The foreclosing institution will continue to pay the propert taxes quarterly until the property has been sold. The buyer would then accept future tax responsibilities
Why is this important?
The lending institutions that are performing the foreclosures do not have to pay property taxes. They pass it on to us.
I believe the businesses performing the foreclosures should have to pay the outstanding property taxes. This would make foreclosing less desirable so the lending institutions would work harder to help work things out.
It would also help to bring down the housing costs as the foreclosing institutions would want to sell the foreclosed properties in order to not pay for more property
taxes.
This would also help the state by getting the taxes paid.
I believe the businesses performing the foreclosures should have to pay the outstanding property taxes. This would make foreclosing less desirable so the lending institutions would work harder to help work things out.
It would also help to bring down the housing costs as the foreclosing institutions would want to sell the foreclosed properties in order to not pay for more property
taxes.
This would also help the state by getting the taxes paid.