Do you pay taxes on a foreclosed home? 2 Answers as of November 05, 2010

If my house is being foreclosed, do I still owe the taxes for it? I am losing it now, so I want to know how it will affect my taxes for this year.

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E. Ray Critchett, Zaino & Humphrey, LPA
E. Ray Critchett, Zaino & Humphrey, LPA | Ray Critchett
Generally, a homeowner is still responsible for the property taxes as long as the home is still in your name. In addition, you may have to report your home foreclosure as taxable income on your tax return.
Answer Applies to: Ohio
Replied: 11/5/2010
LT Pepper Law
LT Pepper Law | Luke T. Pepper
Even if the house is foreclosed, you will owe taxes for the period you own the home up until foreclosure.
Answer Applies to: Pennsylvania
Replied: 11/4/2010
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