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is there any way around property tax?

Discussion in 'BlackHat Lounge' started by theseodude, Oct 7, 2012.

  1. theseodude

    theseodude Regular Member

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    Hi guys
    my poor parents immigrated to the United States a long time ago and they worked and worked and worked. and finally, last year, they bought their first (and probably last) property with all the money they had. they spent all their money. they have literally less than $1000 in their bank account now.

    so they just received a letter saying that have to pay $6500 in property tax for this year. is there any way around this? I am not looking for anything illegal. Any legit ways?
     
  2. ja1myn

    ja1myn Senior Member

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    Your parents bought a property and didn't know about property taxes?

    I have no sympathy. Regardless of whether or not they immigrated here or not. That's no excuse. Before you make any purchase that big and spend ALL YOUR MONEY, you should do your research.
     
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  3. johnjohn123

    johnjohn123 Registered Member

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    There is no way around it. Even if you are in foreclosure or on the verge of bankruptcy. They'll get you to pay the money by any means necessary (basically).

    There is no way to avoid it. The better question is: how can I make 6500$ to pay it?

    You're parents better pick up some weekend jobs. The city might let you do a payment plan.

    You could also put the payment on a credit card or bank loan. If you can't afford to repay it then you can default on it and then settle the debt later for 25% of its value (offer a lump sum payoff) or file for bankruptcy. Of course that will destroy your credit but if you are desperate, it could be an option to use.

    Also that 6.5k will be EVERY year. If they can't afford it, you need to encourage them to move down to cheaper property or rent instead.
     
  4. loclhero

    loclhero Supreme Member

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    You have to pay it. I don't know how they could have even been involved in the process without realizing this. A lot of people, me included, actually have the taxes "impounded" which basically means it's added to your mortgage payment every month. Makes it a lot easier than having to come up with a big check once a year. At any rate, they're not going to get out of paying it and if they don't the property can be seized.