Any thoughts on the recent purchase of tax bills from whitley county by the "Tax Ease" company. This has also happened in Knox County I believe.
I had heard of this from time to time in the state and across the country. It seemed like a very lucrative prospect. The more I read of it, the more sense it made for the companies with money to spend. Actually, I've even talked with locals that are contemplating pooling their resources and doing this as an investment opportunity. I wonder if some of the get rich quick infomercials on TV involves something like this.
Wait till the bills are for sale, pool your money that you can afford to "hold", buy up some tax bills on good property and with property owners that have the money to pay them but won't, wait a year, collect 12% on the bill, and do the paperwork and have the bill sold, or the owner can "pay up". From what I read, the "reasonable attorney's fees" can be what is reasonable to you,,,,,,,,,,,,not the property owner. I've spoke with a few local attorney's, and it can be almost anything.
Anyway, that all said, looks like the county will collect some much needed tax revenue. It's sad, the county attorney hasn't acted on these bills before this. It's no skin of his nose, but I'm sure the property owners would rather have paid the bill, even with the local penalty's, to the county attorney's office than to some out of state group.
Thoughts on this.
I'm all for it,,,,,,,,,,,,I pay my taxes every year, always have, always will. When I look in the paper at the list of non paid bills, and the names of those owing taxes, I have no sympathy for them should this company gouge them for a few thousand.
Guess we'll see in a year or so if they are sold at the courthouse door, and who's property is getting sold.
Actually those TV get rich show's may be true. The law's are different in some States. There is one state I believe, if you purchase the lien, hold for certain amount of time, or years, then collect the interest, you also get the property Deed if they don't pay up. John Beck is the TV show that does alot of this.
The Counties allowing this may Regret this move, especially if really Hard Times hit. The Economy is very Good at this point, if Depression type times hit the State, Counties and Cities will Regret this move!!!!
Each County should deal with it's own people, try Pulling this Stunt in Atlanta and see what their Laws say regarding this----------------------------Do A little Reasearch and you will uncover alot!!!!!!
It is a sad day when a county can't collect its own taxes from its citizens. It is another indication of the poor leadership in Whitley County these past eight years.
To the poster regarding atlanta, what do you mean. How do they do this type thing. What kind of research should we do on this,,,,,fill us in on it, if you know something, tell us. Someone here will follow up on it.
I think shows the lack of "giving a hoot" by the overall county government. They won't do the job, so, they let others.
It makes me wonder, if some of the persons involved with this "Tax Ease" company, are locals, using their name. I wouldn't be surprised.
I'll be anxious to hear the stories when the properties begin to sell on the courthouse steps, then we'll hear some real crying.
This is exactly what needs to happen. If true economic hard times hit, the county can pass an ordanance or temporary state of emergency allowing folks to pay payments on their bills, or to not offer tax bills for sale for a period of time. There are ways the county can help if they want to. If they can pass an occupational tax with no input from the voters, they can help the taxpayers too.
There is no excuse for not paying your taxes. None. If you can't afford to pay them, then you can't afford to own the property. Sorry, that includes all the "what if's" you can come up with, fixed income, illness, divorce, marriage, war, whatever. If you can't pay the taxes, then sell the property. You have to know, that taxes are part of anything you own, and that's the way it is. I don't like it either, but, that's that.
Really, I am waiting to hear the first stories on these tax bills being bought, as to what the "reasonable attornies fees" will be.
The paper said they already have the same company ready to buy last years left over tax bills. There's going to be some shocked people around here soon.
