Back Due Property Taxes

: Chris Lee Law Firm

  Filed under: Tax Debt

inheritance

property taxPart of your responsibility in owning a home is paying your property taxes. Failing to keep up with property tax payments can lead to serious consequences and even put your ownership of the home at risk.

Property Tax Debts

Failure to pay property taxes results in tax debts. Once you owe tax payments on your property you are likely to see interest charges on the amount owed, as well as penalty fees begin to accumulate. The city or county tax assessor is going to begin contacting you about paying your debts and may pursue additional collection options such as wage garnishment or a property tax lien.

Once a tax lien is placed on your property, the tax collector retains partial rights to the property. This means that you would not be able to sell the property for any reason until you  have satisfied the debts. If the debts go unpaid for a significant period of time, the property could be entered into foreclosure or have the deed sold at auction.  It is important to resolve tax debts on your property right away. Even if you can’t afford to repay the full amount owed, you can probably negotiate a repayment plan that will halt further consequences while you repay your debts.

 

 


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