ECONOMICS
PROPERTY RIGHTS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
6 months
|
|
|
1 year
|
|
|
3 years
|
|
|
10 years
|
Detailed explanation-1: -Last date of paying property tax is 31 December The last date of paying the property tax is 31 December. If the property holders fail to pay tax amount by 31 December, they will charge 10% penalty on the tax amount from 1 January 2023 till 31 March 2023.
Detailed explanation-2: -How Long Is the Redemption Period After a Texas Tax Sale? In Texas, the redemption period is generally two years. This redemption period applies to residential homestead properties and land designated for agricultural use when the suit was filed. Other types of properties have a 180-day redemption period.
Detailed explanation-3: -Tax deed states with no redemption period are called “redeemable deed” states. These states are Connecticut, Georgia, Rhode Island, Tennessee and Texas.
Detailed explanation-4: -If you do not pay it within 14 days of receiving that demand letter, the city or town may conduct a “taking” of your property, or it may conduct a tax sale of your property. The city or town also may assign (give/sell) the right to enforce the lien (the “tax receivable”) to a third party.