There are two types of property tax foreclosure in Ohio, tax foreclosure and tax certificate foreclosure.
In tax foreclosure, the county government begins a foreclosure lawsuit against the homeowner for the recovery of delinquent property taxes. In tax certificate foreclosure, a private company sues the homeowner. That private company purchased the right to collect the property taxes.
In tax foreclosure, the lawsuit can be dismissed when the homeowner pays the delinquent taxes and the late payment penalty. The same is true in tax certificate foreclosure, but with a bad twist: the company suing the homeowner in tax certificate foreclosure can charge high interest and legal fees. Tax certificate foreclosure is more expensive for the homeowner. The county treasurer often will agree to a payment plan. The tax certificate holders offer payments plans, too. Participating in the foreclosure process will slow it down, giving you time to learn and plan.
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