when a property owner defaults on their property taxes the municipality sends a notice advising them of the upcoming tax lien if the owner doesn t bring the tax payments up to date the tax lien is then put up for auction 
the lien is transferred to the highest bidder who pays the outstanding tax amount to the municipality in order to remove the lien the property owner must pay the new lien owner the outstanding amount plus interest foreclosure auctions are typically conducted once a year for example the sale date for foreclosures begun in 2023 in king county seattle wa is sept 18 2024 7example of a tax deed saleassume that the value of a property in a tax deed sale is assessed at 100 000 and has 5 700 in back taxes owed the highest bid on the property is 49 000 the county will take 5 700 from the bid amount to cover the property taxes due and the remainder will be paid to the original owner so 5 700 is remitted to the county and 43 300 49 000 5 700 is remitted to the original owner the bidder gets title of the home and an equity profit of 100 000 49 000 51 000 