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In the USA, can you lose your home even after it is 100% paid off? (lemmy.ml)

submitted 11 months ago by Confidant6198@lemmy.ml to c/asklemmy@lemmy.ml

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Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

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[–] brianorca@lemmy.world 3 points 11 months ago

The property tax is based on the assessed value of the property. (Which can change over time, even if you bought it years ago.) And the tax ranges from 0.28% in Hawaii up to 2.49% in New Jersey. Most states are around 1%. There may also be local taxes from a county or city, which is typically a small fraction of the above.