Introduction
In Mecklenburg County, property owners are reminded that the deadline to pay property taxes is today. Failure to pay on time will result in interest charges. This article will provide detailed information on what happens if property taxes are not paid by the deadline and highlight the steps property owners should take to ensure they are paying the correct amount.
Understanding Property Tax Due Dates and Interest Rates
According to the Mecklenburg County Office of the Tax Collector, property owners who fail to pay their taxes by January 5th will be subject to a two percent interest rate. This interest rate will continue to accrue every month until the taxes are paid in full. The rate of interest after the initial deadline is 0.75 percent per month.
Potential Consequences of Non-Payment
If property owners only pay a portion of their property tax bill by the deadline, interest will still accrue on the remaining unpaid amount. It’s important to pay the correct amount to avoid any additional charges. In the worst-case scenario, if property owners choose not to pay their property taxes at all, the county has the right to file a lawsuit and initiate a foreclosure on the property. The property will then be sold at a tax auction to collect the unpaid taxes.
Importance of Paying the Correct Amount
To avoid any complications or issues, it is crucial for property owners to ensure they are paying the correct amount for their property taxes. Larry Shaheen, the real estate transactions lawyer at the Macintosh Law Firm, and Mark Henry, the CEO of Alloy, both emphasize the importance of paying the correct amount to avoid any legal consequences.
Seeking Assistance for Payment Issues
If property owners are experiencing difficulties in paying their property tax bill, they can reach out to the Mecklenburg County Tax Collector’s Office for assistance. The contact details for the office can be found on the official WCNC website. The Mecklenburg County Tax Collector’s Office can provide guidance and support to help property owners resolve any payment issues they may be facing.
Conclusion
In summary, property owners in Mecklenburg County must ensure they pay their property taxes by the specified deadline to avoid incurring interest charges. Failing to pay on time can result in accumulating interest on the outstanding amount, potential legal action, and even foreclosure on the property. To prevent these consequences, property owners should make sure they are paying the correct amount and seek assistance from the Mecklenburg County Tax Collector’s Office if needed. Remember, it is the responsibility of property owners to stay updated on their property tax obligations and fulfill them on time to avoid any financial and legal complications.