Tuesday, November 16, 2010

What if you don’t pay my Texas Property Taxes?

What if you don’t pay your taxes?

The longer you allow your delinquent property taxes to go unpaid, the more expensive and risky it becomes for you.
  • You will have penalty and interest charges added to your taxes. Regular penalty charges may be as high as 12 percent, depending on how long the tax remains unpaid. Interest will be charged at the rate of 1 percent per month, with no maximum. Private attorneys hired by taxing units to collect delinquent accounts can charge an additional penalty to cover their fees.
  • You will receive delinquent tax notices. The tax collector will send you at least one notice that your taxes are delinquent. They often send additional notices and warnings.
  • You may have the option to set up an installment plan. Some tax collectors will allow you to pay delinquent taxes in installments for up to 36 months. They are not required to offer this option, however.
    Before signing an installment agreement, you should know that the law considers your signature an “irrevocable admission” that you owe all the taxes covered by the agreement.
  • You may be sued. The tax collector’s last resort is to take a delinquent taxpayer to court. Court costs will be added to the delinquent tax bill.
    Each person who owns taxable property on Jan. 1 is liable for all taxes due on the property for that year. A person who owned taxable property on Jan. 1 can be sued for delinquent taxes even if the property has been sold or transferred since then.
  • You may face problems in selling your property. Each taxing unit holds a tax lien on each item of taxable property. A tax lien automatically attaches to property on Jan. 1 each year to secure payment of all taxes. This tax lien gives the courts the power to foreclose on the lien and seize the property, even if its ownership has changed. The property then will be aucotioned and the proceeds used to pay the taxes. As a result of the tax lien, someone who purchases real estate cannot obtain a clear title until all the delinquent taxes owed on the property are paid in full. If you are buying a portion of a larger parcel of land, check the taxes on the larger parcel. You will not be able to clear a tax lien against your part unless taxes on the whole are paid.
For more infomation on this topic please go to http://www.window.state.tx.us/taxinfo/proptax/remedy10/remedy10_8.html

Tax Loans USA is committed to providing professional service to every single customer in every single transaction. While we cannot always provide a solution in every circumstance, we pledge to communicate and to treat every customer with respect. For more information please call 800.719.4096 or go to http://www.taxloansusa.com/contact.php

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