If You Can Not Pay Your Taxes… Consider a Property Tax Loan
A property tax loan can be very helpful when one of the many reasons that people are unable to pay their taxes when due arises. Common reasons include loss of a job, bankruptcy, health care costs, accidents, and any other thing that creates an unexpected shortage of cash flow. When this occurs you will need to seek alternatives such as bank loans or specialty loans from companies such as Reliance Tax Loans.
If you cannot pay your taxes the government will eventually file a tax lien on your property, making sure you cannot sell it without paying the back taxes. At this point you must take action otherwise your property may be sold by the Sheriff at a tax auction.
How do County Tax Assessors Estimate Property Values?
It is possible to appeal the appraised tax valuation of your real property if you believe it is not accurate. Keep in mind that there is a limited amount of time each year in which to appeal this so do not delay. When your tax statement arrives review it and compare it to the prior year.
Because establishing the taxable value of your property is usually based on calculations and estimates the state of Texas has dictated that each County shall develop a timely process for property owners to have a hearing where they may contest or challenge the valuation and seek a reduction in the valuation based on information that the property owner brings to the hearing.
Many property valuations are based on comparables from the MLS system. This is particularly true if your property is a residential sing-family home in an urban area. In such cases the MLS usually has plenty of comparable sales to use to establish Fair Market Value. This may not be the case, however, with properties that are in a rural or sub-urban area where there are not enough sales within the last 6 – 12 months to establish a Fair Market Valuation. In such cases the valuation becomes much more subjective and open to interpretation.
The most common tool used to challenge the taxable valuation placed on your property by the Tax Assessor is to provide comparable sales information.
Property taxes are ordinarily due during January in Texas. Late payments are assessed based on a percentage of the tax amount and the penalties may increase in amount throughout the year. As of July, attorney’s fees are levied in most counties and this increases your tax bill significantly.
About Reliance Tax Loans
Reliance makes property tax loans in Texas. Reliance has a sound reputation in the industry for dealing honestly with its clients. Reliance does not sell your loan to another party and will do their best to make your tax payments both affordable and convenient for you. Reliance subscribes to the highest industry standards of confidentiality. Reliance discloses Interest rates which are reasonable and fully disclosed up front. Reliance files the tax lien documents with the County in their name to reduce paperwork for you, your lender, and the taxing entity. Reliance is a member of the FTLA, an agency that ensures the highest integrity in the industry.
When you use Reliance Tax Loans you can be certain that all aspects of the loan agreement will be clear and fair and disclosed up front. Please call Toll Free: 1-888-250-2645 for an appointment or complete an online application now.
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