Texas property taxes are sometimes higher than property owners can pay. When this happens, tax authorities can put a lien on the property, meaning that they will seize it in order to pay delinquent taxes. If this happens to you, don’t panic. Propel Tax can help you secure a loan to pay your delinquent taxes so that you can keep your property.
Property lenders differ, but when it comes to tax eligibility requirements, the criteria are very similar. In general, in order to be eligible for a loan to pay your property taxes, you must meet the following criteria:
- You owe at least $1,500 in taxes and penalties.
- Your CAD appraisal of your property, as listed on your tax bill, is at least $40,000
- You are the title holder of the property.
- You are not currently in bankruptcy.
- You do not have any federal tax liens against any of your property.
In addition, you cannot get a tax loan if the property in question is a mobile home.
The property tax process itself can be complicated, but the process of getting a loan is fairly straightforward. When you apply for a loan, bring all relevant documents so that you can demonstrate that you own the property and have significant delinquent taxes on it. In addition to your property deed and your tax bill, you will also need to provide your Social Security number and date of birth so that your tax lender can run your credit. Finally, you will need to bring any mortgage paperwork that you have so that your mortgage lender can be involved in the tax loan process.
Property tax law is complicated, but getting your delinquent taxes paid doesn’t have to be. Call Propel Tax at 1-800-407-1254 to start the loan process today.
