How long do you have to pay Commercial Property tax's

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Latest post 08-12-2009 1:12 PM by Drew. 2 replies.
  • 08-12-2009 1:58 AM

    • romez
      Consumer
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    • Joined on 12-10-2004
    • MS
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    How long do you have to pay Commercial Property tax's

    I stay in Mississippi. My commercial property tax's is due on 8-26-09 in they put in the newspaper they will start the sale on the last of this month. How does this work if you don't pay 2008 commercial property tax's? Can they really sale it. I thought they had 3 years before they can sale or auction your property tax's. Can you also get a discount on your commercial property tax if your getting disability?

  • 08-12-2009 3:47 AM In reply to

    Re: How long do you have to pay Commercial Property tax's

    romez:
    My commercial property tax's is due on 8-26-09 in they put in the newspaper they will start the sale on the last of this month.

    The date the 2008 taxes were due was 2/1/2009 unless your county or municipality allows for payments in installments. If payments in installments are accepted, the the payments are due as follows: one-half by 2/1, one fourth by 5/1, and the final fourth due by July 1.

    romez:
    How does this work if you don't pay 2008 commercial property tax's? Can they really sale it. I thought they had 3 years before they can sale or auction your property tax's.

    Mississippi Code section 27-41-1 states that if the taxes are not paid by August 1, then the property is to be sold by the last Monday of August. This year, the last Monday in August is August 31. That's why the paper listed it for sale 8/31. August 26 is probably the last day the assessor may be able to take your payment to avoid the sale. So no, not only is the tax collector not required to wait 3 years, under the statute the sale must be done by the end of August.

    "Can you also get a discount on your commercial property tax if your getting disability?"

    Probably not. While states sometimes provide tax breaks for disabled persons on the property taxes for their homes, they don't typically do so for commerical property. If you own commericial property, you are generallly presumed to be able to pay those taxes. If you can't, you likely need to sell the property. Consult a local tax attorney or bankruptcy attorney promptly to see if there is anything you can do now to avoid the sale.

  • 08-12-2009 1:12 PM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on 03-30-2000
    • PA
    • Posts 48,932

    Re: How long do you have to pay Commercial Property tax's

    Local tax collectors can and do move swiftly to sell properties for unpaid taxes---new scorecard---they need the money--your excuses won't play well---and some bottom feeder may buy your property for pennies on dollar if you snooze past final date----you need to get taxes under control PRONTO. 

     

    In some places they go slow--but they have no duty to go slow--don't assume you get extra time.

    And while some places have redemption rights for personal home they may NOT apply to commercial properties .

     

    Do NOT Snooze!

     



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