What is OTC Tax Sale Inventory and Local Land Banks? - Tax Sales Support (Business Opportunities - Other Business Ads)
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What is 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 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. Tax Sales Support 1394 W State St, Pleasant Grove, UT 84062 https://www.taxsalesupport.com/ (800)425–8068 maria@taxsalesupport.info https://maps.app.goo.gl/MTc7NUW7aLy2wN8fA  | |
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| Target State: All States Target City : All Cities Last Update : Mar 21, 2024 5:43 AM Number of Views: 38 | Item Owner : Tax Sales Support Contact Email: Contact Phone: (800)425–8068 |
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