Dallas Property Tax Loans For Investors and Homeowners

Paying delinquent property taxes is no fun. However, in most cases, financial difficulties are the cause of owed property taxes. It’s very rare for homeowners to purposely choose to not pay their property taxes. Over time, delinquent property taxes are subject to penalties and interest. Reliance is a company that provides Dallas Property tax loans for investors.

They also provide property tax loans to homeowners. Obtaining a loan from Reliance Tax Loans yields many benefits. Homeowners must pay all of the delinquent tax balance, which includes accumulated interest and penalties.

Pay Off Delinquent Taxes

The obvious benefit of getting a loan from Reliance is the ability to pay delinquent taxes. A homeowner can get a loan to pay all of their delinquent taxes. Rather than waiting until the taxes get out of control, homeowners can take advantage of a loan from Reliance, and they can pay the taxes off immediately.

Avoid Interest

In the majority of Texas counties, property taxes must be paid by January 31st.Every month that property taxes are delinquent, interest of two percent is added to the tax account.

If an account remains delinquent after June 30th, a collection charge of 20 percent is added to the account. Money that is owed for interest can really add up. A small interest rate of only one percent can add up quickly. The normal interest rate that is tacked onto a tax account is one percent.

Since interest is added to a tax account each month, the total amount of money owed can increase quickly. Homeowners have a defense against tax account interest. A Reliance property tax loan enables homeowners to avoid interest charges.

Avoid Penalties

Penalties imposed on a delinquent property tax account can be huge. Many homeowners find themselves crushed under the financial weight of property tax penalties.

If homeowners don’t pay their property taxes on time, most Texas counties slap a seven percent penalty on their tax accounts. Penalties on a delinquent tax account can cause the balance to grow dramatically. A Reliance Property tax loan will give homeowners the ability to avoid huge tax penalties.

Avoid Litigation and Lawsuits

Homeowners who owe delinquent property taxes face a serious problem. It’s pretty easy for tax assessors to file a lawsuit against someone who owes property taxes. The reason why a lawsuit might be filed is to collect unpaid property taxes.

If taxes are not paid by January 30th, to recoup the unpaid taxes, a lawsuit might be filed against a homeowner. In the past, it might’ve been many years before a lawsuit was filed against a homeowner for delinquent taxes.

However, since most Texas counties are struggling with a budget shortfall, they usually file a lawsuit after taxes have been delinquent for 10 to 12 months. These are some of the benefits of getting a property tax loan from Reliance. Homeowners can use the loan money to pay their delinquent property taxes, and they can avoid lawsuit problems, interest and penalties.