Tax sale Dec. 14

[DanielP]

http://www.hawaii-county.com/real_proper...axsale.pdf

[dwedeking]

Thanks for posting that.

[EightFingers]

OK, so I'm looking at this property in your listing in HPP and the annual property tax is about $500, BUT the owners owe more than $10,000 in back taxes! DO some people not believe in paying property taxes <or> does the county not believe in collecting them?

[hawaiideborah]

Have any of you ever bought anything through this process?
On the past threads in punaweb archive there is lots of info on this.
there are the ups and downs. One of the major downs on doing this is the one year time frame that the original tax payer/owner can buy it back.
See the archived topic for this discussion.
I really wanted to know if anyone has done this process and ask if you could post about it.
Thanks.

[Cagary]

quote:

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Originally posted by EightFingers

OK, so I'm looking at this property in your listing in HPP and the annual property tax is about $500, BUT the owners owe more than $10,000 in back taxes! DO some people not believe in paying property taxes <or> does the county not believe in collecting them?

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Did you see # 67? They owe over $50,000!

[dwedeking]

hawaiideborah - the one year wait also includes a 1% per month profit that the previous owner would have to pay on top of what you paid at bid. So if after 6 months they came back and wanted to purchase it then they would owe you your bid price + 6% (better than putting that money in a bank account). So it's an inconvenience but not a money loser.

Cagary - the back tax is 31,431 - the rest are interest and penalties. (still a lot i agree). Would there be other fees included in this "tax"?

I plan on doing this next june (if they have a tax sale then)

[KeaauRich]

quote:

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Originally posted by EightFingers

OK, so I'm looking at this property in your listing in HPP and the annual property tax is about $500, BUT the owners owe more than $10,000 in back taxes! DO some people not believe in paying property taxes <or> does the county not believe in collecting them?

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uh, yes...on both counts

[EightFingers]

Cagary, after I saw the $10,000 one, I thought I'd seen it all! Guess not....

KeaauRich, I had another thought: Maybe the county is intentionally letting it go to generate more revenue from interest and penalties. Hope not, 'cause I'm outta foil to make hats!

[dwedeking]

quote:

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'cause I'm outta foil to make hats!

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lol. yesterday's tin is today's news.

[DanielP]

Deborah,

Go here to read, Go to the sale to see for yourself.

http://www.hawaiipropertytax.com/Forms/H...es_FAQ.htm

Dan