The collection of real estate taxes for properties located in Ronkonkoma New York is a major priority for the Suffolk County Tax Collector. Real estate taxes fund local services such as public education, police protection and, in some cases, medical services.
Delinquent property taxes create a serious cash-flow problem for Suffolk County New York. Without the tax revenue generated from real estate located in Ronkonkoma, Suffolk County would literally go bankrupt.
To solve this cash-flow problem, the Suffolk County Tax Collector sells Tax Deeds New York tax deeds on properties located in Ronkonkoma New York to winning bidders at the Suffolk County tax sale.
When you buy tax deeds in New York, you are paying someone else's delinquent property taxes. In exchange, Suffolk County conveys title to the real estate to the tax deed purchaser.
Everyone is happy, Suffolk County gets their money and you get the real estate for a fraction of its true market value.
As with all investments, there is always an element of risk. Even if the interest rates are written into New York law, mandated by New York law, and are regulated by New York law, there is a chance of you losing part or all of your investment. You must always try to get the best education and practice safe investing, no matter which investment vehicle you choose.
Ronkonkoma New York Discussion
Below you will find a collection of the latest user questions and comments relating to Tax Deeds on tax-delinquent property located in Ronkonkoma New York.
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"I purchased 3 tax lien certificates at an internet auction for Miami-Dade County, Florida. All three were buildable vacant lots in
moderate income neighborhoods. The prices were: (1)$1,018.86 (2) $1,224.90 (3) $1,654.82. I got 18% interest on all of them.
I placed 39 bids in total."
- A. Hamad, Florida June 9, 2011 6:17:32 PM MDT
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- S. Roy, London
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Research each state's individual tax sale process including whether it is a tax lien certificate, tax deed, or tax deed hybrid, redemption period, bidding method, and the interest/penalty rate by clicking on the name of the state below: