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How Can I Qualify for a Property Tax Loan?

Property Tax Loan FinancingIn today’s tough economy, keeping up with paying your property taxes on time can be stressful and overwhelming. If you live or own property in Texas, you might be eligible for a special property tax loan. RioTax can help you understand tax loans and how you can qualify for one if you are having financial problems, but there a few basic eligibility guidelines you need to meet first to get the process started.

You must own property in the state of Texas.
Tax loans are not limited to residential properties. Owners of investment, commercial, rental, and land properties can also be eligible for tax property loans. Owning more than one type of property doesn’t disqualify you from getting help if you meet all other eligibility requirements.

Your property must be in reasonable condition.
In most cases, properties that are habitable are considered to be in reasonable condition. If your property hasn’t been properly maintained, it can disqualify you from getting a tax loan. Since the definition of a property in good condition is subjective, it’s a good idea to get advice from professionals who specialize in Texas tax laws and loans.

You must owe at least $1,500 in El Paso County property taxes and other relevant fees.
In addition to your property tax debt, be sure to include interest, court costs, and penalties. If you are not sure what type of fees you can include in your debt calculation, contact RioTax for help.

You must be under 65 years of age.
If you are older than 65, you may be eligible for a tax deferral.

You must not be bankrupt or have a current federal tax lien.
Property owners who are in bankruptcy or who have federal tax liens are automatically ineligible for property tax loans.

Keep in mind that there are special circumstances, and the above property tax eligibility rules are general guidelines. To find out if you are eligible for a tax loan and get personalized advice from a team of experienced tax professionals, call RioTax at 1-855-656-3728.

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Your tax office may offer delinquent tax installment plans that may be less costly to you. You can request information about the availability of these plans from the tax office.