1 / 2

What are OTC Tax Sale Inventory and Local Land Banks - Tax Sales Support

The term "OTC Tax Sale Inventory" refers to properties that have been foreclosed upon due to unpaid property taxes and are subsequently available for sale to the public through Over-the-Counter (OTC) auctions or sales. When property owners fail to pay their property taxes for a certain period, typically several years, local governments have the authority to foreclose on the property and sell it to recoup the unpaid taxes

Tax22
Download Presentation

What are OTC Tax Sale Inventory and Local Land Banks - Tax Sales Support

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Tax Sales Support - Utah Visit us: https://www.taxsalesupport.com What are OTC Tax Sale Inventory and Local Land Banks? - Tax Sales Support The term "OTC Tax Sale Inventory" refers to properties that have been foreclosed upon due to unpaid property taxes and are subsequently available for sale to the public through Over-the-Counter (OTC) auctions or sales. When property owners fail to pay their property taxes for a certain period, typically several years, local governments have the authority to foreclose on the property and sell it to recoup the unpaid taxes. The OTC process allows these properties to be sold directly to interested buyers, often at discounted prices or through competitive bidding. These sales are usually conducted by county tax authorities or other governmental agencies responsible for managing tax foreclosures. Local Land Banks, on the other hand, are entities established by local governments or community organizations to acquire, manage, and repurpose vacant, abandoned, or tax-delinquent properties for the benefit of the community. Land banks aim to revitalize neighborhoods, promote economic development, and address blight by acquiring problem properties and returning them to productive use. Land banks may acquire properties through various means, including tax foreclosures, donations, or purchases from private owners. Once acquired, land banks may hold, maintain, or improve the

  2. Tax Sales Support - Utah Visit us: https://www.taxsalesupport.com properties before selling or transferring them to new owners, such as developers, homeowners, or nonprofit organizations. In summary, OTC Tax Sale Inventory refers to properties available for sale due to tax foreclosure, while Local Land Banks are organizations that acquire and repurpose vacant or blighted properties to benefit the community. For expert guidance and assistance for tax sales and property acquisitions, contact us to Tax Sales Support, renowned as the professional tax sale consultant in the industry. Contact Us: Tax Sales Support 1394 W State St, Pleasant Grove, UT 84062 https://www.taxsalesupport.com/ Contact us: (800) 425-8068 Email: maria@taxsalesupport.info Business Profile: https://maps.app.goo.gl/MTc7NUW7aLy2wN8fA Follow-us on: https://www.facebook.com/TaxSaleSupport https://twitter.com/TaxSale101 https://pinterest.com/TaxSaleSupport https://youtube.com/user/thetaxlienspecialist https://linkedin.com/company/tax-sale-suppport/

More Related