What does a "property tax lien" represent?

A property tax lien represents a legal claim against a property for unpaid property taxes. When a property owner fails to pay their property taxes, the government can place a lien on that property as a means of securing the debt. This lien gives the government the right to collect the owed taxes from the sale of the property if necessary. If the taxes continue to go unpaid, the government may eventually foreclose on the property, allowing them to recover the outstanding taxes.

In this context, the other responses do not accurately characterize a property tax lien. A certificate of ownership pertains to the documentation of property rights, while a formal agreement to pay property taxes in installments involves payment terms rather than a legal claim. Additionally, a disclosure statement is related to informing buyers of certain conditions or aspects of a property, rather than a claim against the property itself. Thus, identifying a property tax lien as a legal claim against a property for unpaid taxes captures its primary function in real estate law.