A few years back with the real estate boom, my area in FL was one of the top growing areas in the country. Then, when many could not pay for their homes when the bubble burst, they simply abandoned properties. The following is my understanding which relates to my area, check with your local county though.

When you abandon a property, the taxes continue to accrue and you are liable for them. However, at some point, the county will want their money and they are able to sell your home to the highest bidder. (My county still does this on a weekly basis!)

When the property sells at auction, you no longer own the home and therefore no longer held liable to pay any back or future property taxes.

The highest bidder wins, and now owns, the property. The back taxes/fees are paid from their bid. Sometimes the winner pays as little as just the balance of the taxes plus auction fees! Any overage though is paid to other lien holders. If there are no other liens, the person who abandoned the property is entitled to the overage paid at auction. (They’d have to track it down though, they are not usually contacted to claim it.)

The new owner now may be responsible to pay any other liens on the property, including mortgage, if the winning bid was not high enough to cover it all. However most will find a good lawyer and have the liens cleared so they can have a sellable title - then they flip and sell these properties.

Not knowing the area where you live and how much is owed vs. market price, I don’t know that I can share advice. If I were in your position and the home was in my area, I’d sell the house and walk away with (hopefully) some money in my pocket. Best wishes to you however you choose to move forward!