I came across an article stating why a man had to lose his property as he had failed to pay the taxes on time. You must be aware that paying property tax is mandatory as it is your contribution to state revenue. In case of non-payment, penalty is levied and it can also result in foreclosure. Since you are here taking the right steps and want to know
how to stop a property tax sale, I will help you out to the best of my abilities. Please read the answer carefully and if you know anyone who is in a fix, help them know ways to avoid property tax foreclosure.
Have property-related issues and queries? Get them resolved with legal expertise
Want to sell your house without stress? Avail NoBroker Seller Assist Plans and get it done swiftly
What is property tax sale?To know how to stop property tax foreclosure, you must know the meaning of a tax sale. A tax sale is the sale of a real estate property processed when an individual fails to pay the property taxes. There are two types of tax sales:
A Tax Deed Sale: where one has to sell the property including unpaid taxes
A Tax Lien Sale: where one sells the property to a buyer who must then pay the pending taxes or debt.
How to stop a tax sale on your property?
Losing property is really painful so to stop a tax sale on your property, try to pay back the pending taxes. Depending on the situation you might be allowed to pay them in instalments but if not, you have to pay them one at a go. It will be great if you can do this. There are some methods by which you can stop a tax sale on your property and those are:
Visit the assessor’s office and request a copy of the assessment of your home and begin the appeal process. If you think you won’t be able to pay the taxes at any cost, hire a lawyer and start objecting to the assessment as soon as you can.
You can object to the tax assessment if you think that they have valued the property too highly. Usually, value increases when enhancements have been made to the property if there had not been any, object to the tax sale assessment immediately.
If such a situation occurs, try to know the amount that your neighbours pay as taxes. The houses must roughly have the same tax if there is a great difference, challenge the tax assessment
If you think that the location of your property is in a less desirable place, note this point and take it up when required during property tax sale
However I would also like to mention that such decisions should be taken very cautiously under the advice and supervision of an expert lawyer. So it is better to seek an expert’s advice if you ever fall into such a situation.
I hope these tips have helped you to understand how to stop a property tax sale.
Read More:How to save tax on sale of property?
How far behind in property taxes before foreclosure?
How is the tax on sale of inherited property calculated?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
How to Stop a Property Tax Sale?
Rehan
38 Views
1
3 Year
2022-11-30T19:32:17+00:00 2022-11-30T19:32:18+00:00Comment
Share