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A comment on The man who bought Pine Bluff, Arkansas (2022). Parent comment

Re:The man who bought Pine Bluff, Arkansas (2022) by ac29 on Sunday March 24, 2024 @12:38PM (#39808263)
He bought 74 houses at an average price of $2000 each. I'd suspect many of not most of them were in uninhabitable condition, at least without additional investment and maintenance.
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Re:The man who bought Pine Bluff, Arkansas (2022) by lostlogin on Sunday March 24, 2024 @01:05PM (#39808458)
I wonder what property tax is like - this would amount to more than the purchase price if it’s anything like as high as where I am.
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Re:The man who bought Pine Bluff, Arkansas (2022) by bbarnett on Sunday March 24, 2024 @02:58PM (#39809354)
Property tax is often indexed to property value.
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Re:The man who bought Pine Bluff, Arkansas (2022) by bbarnett on Sunday March 24, 2024 @03:43PM (#39809760)
It depends.

Where I live, the city is legally bound to seize and then auction off houses for unpaid property tax.

There are even interesting things, such a legally mandated grace periods, and the original owner can buy back up to one year after auction.

And this sure sounds like a place where property taxes might default.

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