What are property taxes?
Local governments are funded by property taxes, which pay for everything from schools and streets to police and fire departments. Since we don’t have income taxes in Texas (yay!), sales tax and property tax are what funds our governing bodies.
Property tax is a tax on the value on things you own, especially land. It’s a local tax: local officials decide how valuable your property is, the local government sets the tax rates, and it’s up to the local authorities to collect on the taxes.
There are different ways of deciding how valuable your property is, but most often the local officials decide based on the current market value of similar properties.
What are property tax loans?
A lien is attached to your property each year until you pay your property tax. This means if you don’t pay your taxes, the government can foreclose on your property. Makes paying your taxes pretty important.
But, of course, life happens and sometimes a person is unable to pay their taxes for the current year. A property tax loan is a loan that pays your complete tax obligation, including interest, penalties, costs, and fees.
Property tax loans cover any type of taxable real estate: residential, commercial, investment property, undeveloped land, and developed land.
In addition to paying current taxes, a property tax loan can pay off delinquent taxes and the associated costs and fees.
What about me?
Do I need a property tax loan? Should I apply for one?
If you have delinquent taxes–or if the threat of delinquency is looming over you this year–very seriously consider getting a tax loan to avoid foreclosure, lawsuit, and other penalties that stack up quickly.
Texas Property Tax Loans will serve your needs extremely well, should you need a property tax loan.
