Owning a home is one of the biggest achievements that most people dream of accomplishing in their lives. Homeownership is a major milestone that some people work most of their lives towards reaching. However, sometimes people may suffer hardship through the loss of a job or even injury or illness that may cause them to get behind in their property taxes. When this happens, that American dream can quickly turn into a nightmare.
Taxes are a part of all our lives whether we like it or not. And when it comes to homeownership, although the home may be paid off, taxes are something that never stops even long after we are gone. Many people lose their homes every day due to getting behind in their taxes after suffering financial hardship. Luckily, there are ways to delay or even stop your home from going into foreclosure. While you should search for any tax attorney kansas city mo to speak with a qualified attorney, here are a few tips to help you out in the meantime.
Get a Copy of Your Tax Assessment
You should ask for a copy of this record so that you may inspect it for any inaccuracies such as room dimensions, lot size, and more to see if these notations are accurate. Check to see if the value of the home is accurate compared to what you paid for it and when, as well as what your neighbors’ homes are valued at. If you find discrepancies within your tax assessment, you can appeal the tax assessment. Make sure that you have proper documentation to help support your claim.
Request an Abatement
If you fell behind in your tax payments due to an illness or financial hardship, you may be able to receive an abatement. An abatement won’t let you off the hook completely when it comes to your tax bill, however, it will allow some of the tax amount to be forgiven.
Get a Payment Plan
You may be able to get a repayment plan that will allow you to repay the back taxes over a moderate period. However, like an abatement, a payment plan is at the authority’s discretion and may not always be granted.
Filing bankruptcy can help to not only delay any foreclosure proceedings but it may also help stop them as well. Filing for emergency bankruptcy will cause a stay to go into effect and stop the lender from continuing with a foreclosure sale. Although you can do many of these things yourself, from requesting a payment plan or even an abatement, it would be a good idea to contact an attorney. Dealing with foreclosure can sometimes be a tricky process that can often require a lot of documents and red tape. Especially if you are appealing an assessment, it is important to not only have as much documentation as possible but to also have legal representation as well. A reputable lawyer should be abreast of all of the property tax laws and timetables for filing specific paperwork.