Tax Levy
Facing a property tax levy can be overwhelming. When property taxes go unpaid, the government can take legal action to recover the debt, including seizing your assets.
This may involve garnishing wages, freezing bank accounts, or even taking personal property. If you’re dealing with a property tax levy, MD Tax Help is here to provide the support you need. Our team will help you understand your rights, explore your options, and take immediate steps to resolve the situation before your assets are at risk.
What is a Property Tax Levy?
A property tax levy is a legal action the government can take when you fail to pay your property taxes.
This action allows the government to seize certain assets, such as bank accounts, personal property, or even real estate, to recover the overdue tax amount. A levy is a serious matter that can have a significant impact on your financial stability if not addressed promptly.
How a Property Tax Levy Works
• Unpaid Taxes
When you miss a property tax payment, the government marks it as overdue. As time passes, interest and penalties may accumulate, increasing the total amount owed.
• Issuance of a Tax Levy
If the tax debt remains unpaid, the government may issue a tax levy. This legal action allows the government to seize specific assets or funds from your accounts, such as bank accounts or personal property, to recover the unpaid taxes.
• Seizure of Assets
With a tax levy in place, the government has the legal right to take your assets to satisfy the debt. This may include garnishing wages, taking funds from your bank account, or even selling personal property to cover the outstanding taxes.
• Possible Property Sale
If the levy remains unresolved, the government may move forward with more extreme measures, including selling your property at a tax sale. This could result in the loss of your home or other valuable assets to cover the unpaid taxes.
Client Success Stories
At MD Tax Help, we have helped many clients resolve tax levies and avoid losing their assets.Here are a couple of examples of how we’ve helped homeowners in similar situations:
• Stopping a Levy for James
“James was facing a property tax levy that threatened to seize his bank accounts and personal assets. Overwhelmed by the looming threat of losing his property, James wasn’t sure where to turn or how to fix the situation. When he contacted MD Tax Help, our team quickly reviewed his case and assessed his financial situation.
We knew time was critical, so we helped James create a payment plan that he could afford. By acting quickly and taking the right steps, we were able to stop the levy before it got worse. As a result, James was able to keep his assets and avoid any further seizures. Now, he’s on track to pay off his tax debt in a way that works for his budget, and he no longer has to worry about losing his property”
• Preventing Asset Seizure for Karen
“Karen’s unpaid property taxes had led to a tax levy on her home. She was understandably worried about losing her property and other valuable belongings. Feeling stressed and unsure of what to do, Karen reached out to MD Tax Help for assistance.
Our team immediately reviewed her situation and worked with her to find a solution. After exploring all options, we helped Karen reduce her debt and set up a payment plan that fit her budget. By acting quickly, we were able to stop the levy and prevent the seizure of her home and belongings. With our help, Karen was able to protect her property and get her tax debt under control in a way that was manageable for her.”