Owning your own home is part of the ‘American dream!’ Of course, this dream can quickly come crashing down if you happen to miss a few tax payments.
Okay, let’s start from the beginning and explain to you why you need a real estate attorney.
What is Property Tax?
According to real estate tax law, property tax refers to a tax that’s paid by property owners, either individuals or other legal entities such as corporations to the federal government.
Property tax is real estate ad-valorem tax, which is considered to be regressive. This is usually calculated as per the local government your property is under and it has to be paid by the owner of the property.
It is based on land tax, and the value of the property owned, which includes everything on it. Most jurisdictions will have tax tangible personal properties such as boats and cars.
Now, in case you fail to pay your property taxes, you are likely to lose your home. The tax amount accrues to form all delinquent taxes, which can lead to a foreclosure. If you find yourself in this situation, a real estate tax redemption lawyer in Miami can help you.
At Arturo R. Alfonso P.A., we understand all about land tax and have been in operation for over twenty years, we have helped many clients regain their homes. Contact us today and get help with real estate tax redemption in Miami.
The Tax Redemption Process
Real estate tax law in Miami requires that owners repay all of their delinquent taxes to regain their properties. Charges accrued during the redemption process include interest, cost of the tax sale, and final notice.
There could be additional charges after the tax sale, such as a redemption fee, subsequent taxes, and an initial fee. Therefore, you might need assistance with real estate tax redemption in Miami.
Normally, owners are given a period to repay the delinquent taxes and regain their homes. Our real estate attorney’s at Arturo R. Alfonso P.A. can help you get back your home before the expiry of the redemption period.
Getting Your Home Back Before A Tax Sale
When you lose your home to a tax sale, you have two options to get it back: redeeming it or overturning the sale.
Real estate tax laws in Miami specify that a tax lien is put on the sale to help catch up with your taxes before your property is sold off at a tax deed sale. This is because the purchaser must wait for two years before applying for a tax deed to the collector.
To regain your home, you will have to pay the face amount of the tax certificate along with other costs, including interest. That way, you will have redeemed your home.
This may be difficult for someone who does not understand land tax; however, you can easily get back your property with the right real estate attorney.
If you don’t settle the accumulated amount, you risk losing your home unless you can invalidate the completed tax sale, which rarely happens.
How To Lower Your Property Taxes?
Even though you have a lot of time to redeem your home before a tax deed sale, you might want to try and make your taxes affordable.
Consult a real estate attorney for this. Moreover, educate yourself and research real estate tax law in Miami and real estate tax redemption in Miami.
If you are looking for a real estate attorney in Miami, look no further than Arturo R. Alfonso P.A. We deal with all sorts of land tax problems, including real estate tax redemption. We also deal with:
Please get in touch with us today for all your legal issues. We are more than willing to serve you!