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Tax Liens & Mortgage Notes

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Adrian Pillow
  • General Contractor
  • Warrenton, VA
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72
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When the county Tax Lien is more than the Property is worth?

Adrian Pillow
  • General Contractor
  • Warrenton, VA
Posted Oct 24 2016, 21:08

I am completely confused on how the math works on City/County owned properties where the outstanding back taxes owed are worth more than the property...  (think: vacant lots / teardowns)

Is there a way to pre-negotiate with the county Tax Assessor?  % of owed maybe?

Basically, who or how are are these properties disposed of if the math does not work?

Thanks for any insights!   

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