Property tax is the tax that the owners must pay for their country, where property is taxed to its value, and the tax is calculated on this basis. Property tax is often a bad choice, because it is one of the most expensive and regressive types of tax, where property tax lien auctions are advancing more with the topmost status in the industry of real estate. When houses are foreclosed upon and then repossessed, the homes are then sold during a Property tax lien auction to the highest bidder so the mortgage company can help recoup its loss.