Unpaid taxes become a lien on the property. This means that the tax obligation is recorded in the government’s property records, and until the taxes are paid, the lien remains. If the taxes are not paid for a long enough period, the owner will lose the property. Meanwhile, a penalty of 8% to 50% per year is being added to the amount of the lien. Having a lien on the property means that nobody can buy the property without being subject to the lien. Government-issued tax liens are super safe; they’re superior even to first mortgages.
