END HOME EQUITY THEFT
It’s a popular trope in some circles that “taxation is theft.” Unfortunately, taxes are necessary to fund public services and infrastructure. But in the states colored red in the map above, tax laws allow government to take dramatically more than what it is owed. Taking what is necessary to recover a debt is just, but taking more is theft.
In these states, if a property owner fails to pay or underpays his property taxes, even by just a few dollars, the local government or a private lienholder can eventually take the entire property, along with the owner’s equity (which is usually worth much more than the tax debt). Pacific Legal Foundation found 8,600 homes and more than $780 million in life savings were lost to home equity theft. Unlike with other types of foreclosures, the property owner is left with nothing—regardless of the size of the debt or the value of the property. The Supreme Court recently held that this kind of theft is unconstitutional. That means these states must change their laws or face growing liability for home equity theft.
https://homeequitytheft.org/
In these states, if a property owner fails to pay or underpays his property taxes, even by just a few dollars, the local government or a private lienholder can eventually take the entire property, along with the owner’s equity (which is usually worth much more than the tax debt). Pacific Legal Foundation found 8,600 homes and more than $780 million in life savings were lost to home equity theft. Unlike with other types of foreclosures, the property owner is left with nothing—regardless of the size of the debt or the value of the property. The Supreme Court recently held that this kind of theft is unconstitutional. That means these states must change their laws or face growing liability for home equity theft.
https://homeequitytheft.org/
