If you are unable to pay the property taxes, you could lose your home. Fortunately, situations as dire as those don't happen overnight. Here's What Happens If You Don’t Pay Quarterly Taxes. We will be happy to help you out of this situation if possible. It's typically levied at a county or city level. If you receive an extension to file and pay 90 percent of the actual tax liability by the original due date, you will not face a failure to pay penalty if the rest of the balance is paid by the extension date. You need to find and apply for property tax exemptions offered in your area. We buy houses in any condition, “as-is” and we also buy land with back taxes as well. In the case that a tax bill isn’t paid by the due date, engage with us early so we can help you deal with your debt while it’s still manageable. If you don’t have enough money to pay your property taxes, the options vary based on where you live. If you don't pay, you'll get a 0.5% penalty by the IRS. Even if you miss the deadline by a day, you’ll still be penalized. Exceptions to These Penalties Simply receiving an extension of time to file does not mean that you are not responsible for paying the taxes. However, you may still be on the hook 10 or 20 years later. Once this happens, your option to use the equity in your home to pay your tax bill is suspended, as you generally cannot refinance or sell your house until the fiscal obligation is satisfied and the lien is removed. But when it comes to property taxes, you could pay too much if you don't know you … It’s only after you file your taxes that the IRS has a 10-year time limit to collect monies owed. Luckily, there are a lot of options before that happens. If you don’t pay We know that taxpayers, in particular small business operators and sole traders, sometimes have cash flow issues meaning they can’t pay their whole tax bill on time. The Consequences of Not Paying Property Taxes. Nobody likes paying a dime extra in taxes. If you don't file and pay taxes, the IRS has no time limit on collecting taxes, penalties, and interest for each year you did not file. Check the websites of tax agencies in your area to find out what tax relief is available. You'll still owe taxes on July 15. We can help you avoid what happens when you don’t pay property taxes and sell your house if you owe back taxes. Worst case scenario—if you don’t pay the taxes, or you end up with unpaid property taxes for a long period of time, you lose your home. If you remain unable or unwilling to pay your property taxes, your county has the right to place a tax lien on your property. What If You Can’t Pay Unpaid Property Taxes? 5. Sell any type of property; Residential, Commercial, Industrial or Agricultural. You didn’t or couldn’t pay your taxes so you were charged penalties and interest. 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