Know Your County Offices - An Important Key to Tax Lien & Tax Deed Investing
When looking to invest in Tax Liens and Tax Deeds, there is a lot of homework to be done to become a successful investor.
One of the most important parts of that homework is to know who you are working with, and where to find the information you need.
The professionals in the County Offices will become a true asset to you when researching your properties, so get to know them and their job assignments before you begin your search.
Here is a brief introduction that will help you get started! PROPERTY ASSESSOR/APPRAISER The Assessor (or in some counties known as the appraiser) is responsible for setting the Tax Value for real estate in each county.
The Assessed value of a property multiplied by a set tax rate is how they come about figuring annual property tax.
Keep in mind, in some areas of the country assessed value is very close to market value (especially in our current economic situation).
However in other areas, the assessed value could be under or over the current market value, ask the clerk at the assessor's office how their values stack up to current market values.
TAX COLLECTOR/TREASURER The Tax Collector (in some counties known as the Treasurer) is responsible for collecting the taxes for their county.
They take the information the Assessor's office gives them, and sends out the actual tax bill.
They are the collection department for that bill as well.
If a property owner does not pay their tax bill, the collector's office will notify the property owner and let them know they are in default.
State statutes will determine how long a person can be in default before the county takes action to collect what is owed.
The Tax Collector is responsible for having the list of delinquent tax properties published in the newspaper.
If the owner of the property does not come forth and pay the debt after the public notice is published, the property then goes to auction in most cases.
At that point the Tax Collector's office will conduct a sale, once the set time frame has passed.
COUNTY CLERK The County clerk's office sometimes oversees the land records office.
In that case part of the clerk's function is to ensure that county records are properly recorded, including deeds, plat maps, mortgages, liens & other records relating the property.
There is not anything specific you need from the clerk's office, you just need to be aware that the records for the property you are researching may be kept there if you need to obtain them.
LAND RECORDS This department is where all documents relating to the ownership of/interest in the property is recorded.
It could also be called the Recorder's office, Registry of Deeds, or another name; check with your County Clerk's office for verification on this.
When you buy a property, the deed is recorded here.
If there is a mortgage on the property, it is recorded here as well.
Any liens against the property have been recorded here in order to keep it as part of public record.
The land records office is usually where maps of the county are kept as well.
They will have maps of individual subdivisions (plat maps), maps of unplatted land, and maps showing the county boundaries.
The maps are invaluable to you in locating properties, particularly land that does not have a street address.
Some counties have a separate mapping department that keeps and maintains all the maps, but most often they are held in the Land Records office, when in doubt, ASK.
ZONING DEPARTMENT The zoning department maintains and enforces the regulation that specifies what can be done with any given piece of property within a county.
The regulations themselves may be created by the zoning department, planning commission, or the county commissioners, but the zoning department will enforce them.
If you want to know if a piece of land is a suitable building site for a home and what size the home needs to be, you will want to find the zoning regulations in this office.
One of the most important parts of that homework is to know who you are working with, and where to find the information you need.
The professionals in the County Offices will become a true asset to you when researching your properties, so get to know them and their job assignments before you begin your search.
Here is a brief introduction that will help you get started! PROPERTY ASSESSOR/APPRAISER The Assessor (or in some counties known as the appraiser) is responsible for setting the Tax Value for real estate in each county.
The Assessed value of a property multiplied by a set tax rate is how they come about figuring annual property tax.
Keep in mind, in some areas of the country assessed value is very close to market value (especially in our current economic situation).
However in other areas, the assessed value could be under or over the current market value, ask the clerk at the assessor's office how their values stack up to current market values.
TAX COLLECTOR/TREASURER The Tax Collector (in some counties known as the Treasurer) is responsible for collecting the taxes for their county.
They take the information the Assessor's office gives them, and sends out the actual tax bill.
They are the collection department for that bill as well.
If a property owner does not pay their tax bill, the collector's office will notify the property owner and let them know they are in default.
State statutes will determine how long a person can be in default before the county takes action to collect what is owed.
The Tax Collector is responsible for having the list of delinquent tax properties published in the newspaper.
If the owner of the property does not come forth and pay the debt after the public notice is published, the property then goes to auction in most cases.
At that point the Tax Collector's office will conduct a sale, once the set time frame has passed.
COUNTY CLERK The County clerk's office sometimes oversees the land records office.
In that case part of the clerk's function is to ensure that county records are properly recorded, including deeds, plat maps, mortgages, liens & other records relating the property.
There is not anything specific you need from the clerk's office, you just need to be aware that the records for the property you are researching may be kept there if you need to obtain them.
LAND RECORDS This department is where all documents relating to the ownership of/interest in the property is recorded.
It could also be called the Recorder's office, Registry of Deeds, or another name; check with your County Clerk's office for verification on this.
When you buy a property, the deed is recorded here.
If there is a mortgage on the property, it is recorded here as well.
Any liens against the property have been recorded here in order to keep it as part of public record.
The land records office is usually where maps of the county are kept as well.
They will have maps of individual subdivisions (plat maps), maps of unplatted land, and maps showing the county boundaries.
The maps are invaluable to you in locating properties, particularly land that does not have a street address.
Some counties have a separate mapping department that keeps and maintains all the maps, but most often they are held in the Land Records office, when in doubt, ASK.
ZONING DEPARTMENT The zoning department maintains and enforces the regulation that specifies what can be done with any given piece of property within a county.
The regulations themselves may be created by the zoning department, planning commission, or the county commissioners, but the zoning department will enforce them.
If you want to know if a piece of land is a suitable building site for a home and what size the home needs to be, you will want to find the zoning regulations in this office.