Your
county govt or municipal government has a large stake in collecting property
taxes so it can meet the budget. Local govt don’t look kindly on home owners
who don’t pay their property taxes and have some incredibly powerful tools that
make sure the taxes will be paid sooner or later that might even include
selling your home. Now all local govt impose taxes on home owners to municipal
and county services that help pay for thinks like utility services, public
schools, fire services and police. For these entire unhealthy situations, there
is just one way out which is the Travis
County Tax Protest.
Interest and Penalties Will Accrue
In
case you don’t pay tax when they’re due, your local taxing authority will start
to charge interest on your tax account. This typically accrues monthly or even
monetary penalties. This means that the total balance you owe to your local
government will begin to rise and at some point they will publish notice of
your delinquent taxes in newspaper.
You Could Lose Your Property in a
Tax Sale
In
case you continue to be delinquent in your payment, the tax authority will
schedule your home for a tax sale and you’ll receive notice of this. In order
to be relieved from all these disturbances, you need to speak with Travis
County Tax Protest attorney
as soon as possible.
Now,
your tax authority can only sell your house at tax sale and render you the deed
to the highest bidder. Alternatively they may sell the lien instead of selling
your house. The purchase of the lien pays all the tax dues and you owe the
investor not the tax authority. In case you will not to pay, the purchaser can
file a petition with the court to foreclose on your property and take
ownership. You will hardly get a year prior to this last step. However, during
this time, many property taxes will continue to accrue.
A Tax Lien Will Be Placed On Your
Home
Here,
the property tax lien will be placed on your home and recorded and attached to
the property informing everyone that you owe someone money. Now, a property tax
lien has priority overall other liens and its effect can’t be sold until the
property tax bull is paid. This lien can’t get clear title to your home until
the bill is paid and lien lifted. So, you can forget about selling house and
walk away from your unpaid property taxes.
You Have Options
If
you fall behind on your property tax you’d receive notice of the tax sale and
speak with the Travis
County Tax Protest lawyers very quickly. Depending on where you live,
you will have number of ways. For instance, some tax authorities allow
requesting an abatement of your tax because of hardship. However, you need to
prove the authority that you’ll enough to income to meet your basic living
expenses like food, heat, lights, house payment. In case you have many
unnecessary expenses in your budget or have a big deal of equity, your tax
authority may deny it for an abatement.
You
should then be able to apply to enter into a payment plan allowing to pay what
you owe in installment. Also, you will have to prove financial hardship to have
a payment plan approved.
Some
local government and states have special programmes to help financial struggle
who can’t pay their taxes. This includes grants and low interest loans. Now,
some states also have property tax deferral programmes that need you to pay a particular percentage of annual income for
tax with the state paying the remainder.
A Tax Lawyer Can Help
The
law surrounding failure to pay property tax is complex and varies from one
state to other. For more detail, and particular info, you should contact a
property tax protest attorney.
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