Understanding the Marion County Tax Sale Process
What is a Tax Sale?
A tax sale occurs when a property owner fails to pay their property taxes. To recover the unpaid taxes, the Marion County holds an auction where the property is sold to the highest bidder. This process is a legal means for the county to collect the overdue taxes and is governed by state and local laws.
Tax sales help ensure that counties have the necessary funds to provide public services. In Marion County, the tax sale is typically held annually, and the properties with the longest overdue taxes are prioritized for auction.
What is the Redemption Period?
The redemption period is a specific timeframe during which the original property owner can reclaim their property by paying the overdue taxes, plus any additional costs and interest. In Marion County, this period typically lasts one year from the date of the tax sale. During this time, you have the exclusive right to redeem your property and prevent it from being permanently transferred to the tax sale purchaser.
For more detailed information, you can visit the Marion County Treasurer’s Office website.
Common Questions
How can my property be sold without my permission? When property taxes go unpaid, the county has the legal right to sell the property to recover the owed taxes. This is done through a public auction called a tax sale. Although it might feel like your property is being sold without your consent, it is a legal procedure to collect unpaid taxes. Notices are typically sent to property owners before the tax sale, but if you've moved or haven't updated your mailing address, you might miss these notifications.
Do I still own my property? Yes, you still own your property during the redemption period. The purchaser at the tax sale does not gain full ownership immediately. You have the opportunity to redeem your property by paying the overdue taxes and associated costs within the redemption period. This process ensures that property owners have a fair chance to keep their property.
What happens if the taxes are not redeemed? If you do not pay the overdue taxes and associated costs within the redemption period, the purchaser at the tax sale can obtain a deed to your property. This means you will lose ownership of your property permanently. It's crucial to take action during the redemption period to prevent this from happening.
How Can I Save My House?
To prevent losing your property, you need to redeem it during the redemption period. Here's how you can do it:
Determine the Amount Owed: Contact us to find out the exact amount you need to pay, including taxes, interest, and any additional fees. We can provide a detailed breakdown of the amounts owed.
Make a Payment Plan: If you can't pay the full amount at once, inquire about setting up a payment plan. Some counties offer payment plans to help property owners manage their financial obligations. Check the Marion County Treasurer’s Office payment plan options.
Seek Financial Assistance: Look for local programs or organizations that offer financial assistance to help pay property taxes. Non-profit organizations, community groups, and government programs may provide aid. For example, you can contact the Indiana Housing and Community Development Authority (IHCDA) for potential resources.
Consult a Professional: Speak with James Schultz and/or Andrew Taylor to explore all your options. They can offer guidance on legal rights, financial strategies, and any other relevant advice to help you navigate the redemption process.
Stay Informed: Regularly check for updates on tax sale procedures and your property’s status. The Marion County Tax Sale Information Page provides useful details and resources.
Consider Selling: If paying off the taxes and reclaiming your property isn't feasible, consider selling your property. Selling can be a good alternative to losing your property without getting anything in return. We can help you sell your property as-is - without making repairs, either for cash or on the MLS. Our team can provide you with a fair cash offer, allowing you to walk away with money in hand and avoid further financial strain. Alternatively, we can list your property on the MLS to attract potential buyers and get the best possible price.
By understanding the tax sale process and taking action during the redemption period, you can save your property and prevent losing it permanently. If you have any further questions or need assistance, feel free to contact us. We're here to help you navigate this challenging time.
For more assistance, please reach out to us at info@wolfpropertygroupllc.com or call us at 317-782-5597. We are committed to helping you through every step of this process.
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