In this low interest rate economy, Tax Lien Certificates and Tax Deeds investment stands out as a high-return safe way to invest your money. Create a plan for investing and make sure you stick with it. Whether it is two hours a week or another schedule you set for yourself, make your dreams real by taking action. All of your actions are what creates your success.
It is exciting to share this reliable tried and true wealth accumulation vehicle. For most people, knowing where and how to invest is a skill born of experience and expertise.
True success happens when you: (1) have the strong intention to make it happen and (2) do what it takes to make it happen. Without both the intention and the actions you will fall short of reaching your goals.
You will be taking a look at the variables involved, evaluating them with the tools you will learn here and make an educated decision to purchase or pass on the investment opportunity.
First, let’s try to understand the local property taxing authorities. To many investors, the word “taxes” brings to mind the IRS and little else. But most investors don’t realize that the IRS only has the ability to collect taxes for the federal government. Each state and local government also has its own power to levy and collect taxes to fund government operations. Property taxes are levied by local governments (county, town, city, village, etc.) While not all states have income taxes, most county and local governments levy taxes on property within their jurisdictions.
Tax Lien Certificates relate to taxes on property at the local level and come under the authority of local property assessors.
By gaining insight into how local governments assess value and collect taxes on property in their jurisdiction, you get the hang of tax lien certificate more quickly.
Here is a snapshot of how things work on the county level:
· Every county has a tax assessor
· Most assessor are elected politicians
· Assessors as elected officials many not be experts in property assessment
· Elected assessors are politicians and should be regarded as such
· They often rely on software packages, which automatically calculate property tax assessments for them