If you’ve been following our blog closely, you know that we’re committed to providing you with the resources you need to find property tax relief. Our angle isn’t just to get you to apply for a loan and then send you on your way with an unreasonable monthly payment or terms that don’t have your best interests in mind. We want to connect you with tools that inform you of the available options for tax debt relief so you can get back to life as you know it.
Given the nature of what we do, the subject of property tax liens in Texas comes up quite often. So, what are they and how can you make one disappear? Keep reading to get the answers to these questions.
What is a Tax Lien?
A tax lien is a federal, state or local government’s legal claim against your property when you don’t pay taxes. If the property is your home, it might be tricky or near impossible to sell or refinance it using traditional methods until the tax debt is paid in full.
According to the IRS, if a tax lien is placed on a small business property, the lien will protect the government’s interest in not just that structure, but all of your property, including additional real estate, personal items and financial assets. Once a lien is placed, it can also limit your ability to get credit, and it doesn’t always go away in the event that you file for bankruptcy.
How Do You Get Rid Of A Tax Lien in Texas?
There are a couple of options when it comes to this question. Let’s take a closer look at a few of them.
Appeal The Tax Lien
If you feel like the amount of your property taxes is much higher than what your neighbors are paying, or you believe the total exceeds your home’s market value, you can appeal your property taxes. You actually don’t need legal help to do so, and a lot of local government agencies can walk you through the process. You can start by contacting your appraisal district to find out how long you have to appeal and to set up an informal hearing. It’s possible to solve the issue during the first hearing, but sometimes a second, more formal hearing is required.
If a formal hearing is necessary, you’ll have to go before a review board of assessors and prove that your assessment was incorrect. At this point, you’ll want to bring strong evidence, like measurements, and comparisons to similar homes or commercial properties in the area. When it comes to your evidence, the more substantial it is, the better your chances of getting your property tax amount reduced. If you win your tax lien appeal, this doesn’t mean that what you owe will be totally wiped out. What it does mean is the amount you owe will be reduced to a more manageable payment amount.
Pay Your Property Tax
The good news is, if you can cover your bill, the tax lien is usually released 30 days after it’s paid. Sure, this might seem like the most obvious choice, but it’s not always the easiest. One option might be to see if you can set up a payment plan so you can pay back what you owe in a series of installments. If you think that still might be a little too much to handle, you can apply for a property tax loan to settle up with the tax authority right away.
Property tax loans can help satisfy financial obligations while preventing additional interest and fees from racking up. They also can ultimately keep people from facing foreclosure. Instead of compiling penalty fees and interest, a property tax loan makes it possible for you to cover your tax bill in full with your local tax authority. You can then pay the loan back to the lender in reasonable monthly payments.
If You’ve Been Looking for A Texas Property Tax Lender, Trust Tax Ease
Tax Ease isn’t your average Texas property tax loan provider. We offer tax help for Dallas, Houston, McAllen and beyond. Founded in 2003, Tax Ease remains a top choice for residential and commercial property owners in the area. With our simple application process for property tax loans in Texas, and terms that keep you and your needs in mind, we’re committed to helping you manage property tax debt so you can maintain your life as you know it. If you have questions, contact us today.