Property Tax Experts
Are you having trouble paying your property tax?
Many homeowners are unable to pay for their property taxes due to low income levels. Most
municipalities have programs available to waive taxes for up to one year.
Though your city may have its own procedure for filing poverty exemption, you will typically need
to prove a few things:
Many homeowners are unable to pay for their property taxes due to low income levels. Most
municipalities have programs available to waive taxes for up to one year.
Though your city may have its own procedure for filing poverty exemption, you will typically need
to prove a few things:
- Your income is below the poverty level or a certain amount for your area.
- You have no additional assets to use to pay for your property tax.
- And you can properly document your case.
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Other creative options to pay your property tax
Look to refinance, with low rates and many government programs it may be possible to
not only lower your current payment but also cash out funds for your tax payment.
Compare the late charges and penalties of your delinquent property tax with that of low
rate credit cards or a loan through your local bank.
Many homeowners use their tax return money to pay property tax, while another option
would be to raise exemptions at work to have less tax taken out and use that money to
set up your own escrow account.
You may already have an escrow account set up and are coming up short with your
monthly mortgage payment. Call your lender and find out your escrow account balance
and ask if you can make just the note portion of your payment. This will allow you to free
up cash flow and will not effect your credit rating (check with lender).
Look to refinance, with low rates and many government programs it may be possible to
not only lower your current payment but also cash out funds for your tax payment.
Compare the late charges and penalties of your delinquent property tax with that of low
rate credit cards or a loan through your local bank.
Many homeowners use their tax return money to pay property tax, while another option
would be to raise exemptions at work to have less tax taken out and use that money to
set up your own escrow account.
You may already have an escrow account set up and are coming up short with your
monthly mortgage payment. Call your lender and find out your escrow account balance
and ask if you can make just the note portion of your payment. This will allow you to free
up cash flow and will not effect your credit rating (check with lender).
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