The collection of real estate taxes for properties located in Dixonville Tennessee is a major priority for the Shelby County Tennessee tax collector. Real estate property taxes for property located in Dixonville Tennessee help fund local services such as public education, police protection and medical services.
Delinquent taxes for property located in Dixonville Tennessee create a serious cash-flow problem for Shelby County Tennessee. If they are unable to collect property taxes, they are also unable to fund important government services like police protection, public schooling, and emergency medical services.
In an effort to recover lost tax revenue, tax delinquent property's located in Dixonville Tennessee are sold at the Shelby County tax sale. Tax delinquent property's are sold to winning bidders (state laws differ), though often they are sold for the amount of unpaid taxes (typically a fraction of the full market value).
Successful purchasers at the Shelby County Tennessee tax deed sale receive a Tennessee Tennessee tax deed. Full rights to Dixonville Tennessee property sold at a Shelby County Tennessee delinquent tax sale generally do not pass immediately to the purchaser. Rather, the purchaser acquires an interest in the Dixonville Tennessee property subject to redemption by the former owner.
The right of redemption is a statute specified period of time during which the original owner may redeem or take back the real estate by paying to the purchaser the purchase price plus interest within the time period allowed by statute. If the former owner does not redeem within the prescribed period, the purchaser acquires title to the property free and clear of all liens created prior to the sale. In some states the deed is issued to the purchaser automatically upon the expiration of the redemption period; in other states a tax sale purchaser must apply for the deed and then bring a foreclosure action to cut off the right of redemption or an action to quiet title. Most states do not require that the taxing authority or the purchaser reimburse the former owner for any surplus equity in the property when the property is transferred to the purchaser.
Generally, there are two outcomes with the sale of Tennessee tax deed (hybrid); the purchaser will either receive what they paid to satisfy the delinquent property taxes plus interest and or penalties or receive a tax deed (title obtained through tax foreclosure process) which conveys all right, title and interest of county in the property, including all delinquent taxes which have become a lien since issuance of Tennessee tax deed (hybrid).
As with any investment, there is always an element of risk. Even if the tax sale process is written into Tennessee law, mandated by Tennessee law, and regulated by Tennessee law, there is still a chance of purchasers incurring substantial loss. It is recommended that anyone considering buying a tax lien or tax foreclosure property consult properly licensed legal and accounting professionals.
Below you will find a collection of the latest user questions and comments relating to Tax Deeds (Hybrid) on tax-delinquent property located in Dixonville Tennessee.
The following is a list of counties located in the state of Tennessee. Tax Deeds (Hybrid) for properties located in the following counties are sold at Tennessee county tax sales.
Learn more about each county's individual tax sale process by clicking on the name of the county for which you are interested from the list below: