If I take over the property across the street that has been vacant for years and I pay the taxes will there be consequences??

Yes, you will lose whatever you pay. And you may also be prosecuted for trespassing.

There is no such thing as squatters rights. You can research the laws on Adverse Possession in your area. But It takes a lot more than paying the taxes. What makes you think there are taxes due?

Someone has a claim to every square inch of land in the U.S. whether it be the record owner, the owner's heirs, the government, or someone. As ScottGem suggests, finding our who has been paying the taxes is usually a good clue. If the taxes haven't been paid in a few years, the government will end up owning it. In just about everywhere, you cannot gain title to land unless you have some sort of a claimed right to it. That's how adverse possession works.