The Startlegram wrote an article about an increasing number of people resorting to lenders who will pay their property taxes. Apparently the trend seems to be on the rise, while the county has seen only marginal increases in the number of unpaid property taxes. They seem to be bracing for more accounts becoming delinquent as the economy worsens. I suppose that property taxes are a fairly decent gauge of the overall local economy, and if that is indeed the case then we don’t seem to crippled for the time being.
Here is something I bet most people don’t know. If you have signed a lease with an oil and gas company, and your property is part of a producing unit, you may have a friend. If the county issues a lien against your property for unpaid taxes, and the issue goes to court, the company may step in and pay the taxes for you. You see, they don’t want your home to become foreclosed on because they will lose the lease, so they would rather pay the taxes and deduct it from future royalty payments.
You certainly can’t rely on this, and it would only arise in dire circumstances, but I bet most people are unaware of that.
February 22nd, 2009 at
[...] Fort Worth Real Estate wrote an interesting post today on Property Tax AssistanceHere’s a quick excerptApparently the trend seems to be on the rise, while the county has seen only marginal increases in the number of unpaid property taxes….I suppose that property taxes are a fairly decent gauge of the overall local economy, and if that is indeed the case then we don’t seem to crippled for the time being….The Startlegram wrote an article about an increasing number of people resorting to lenders who will pay their property taxes….You see, they don’t want your home to become foreclosed on because they will lose the lease, so they would rather pay the taxes and deduct it from future royalty p ayments…. [...]