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Don't let your property taxes break you...

If you are counting on the amnesty bill from the state of Indiana to give you more time to pay your property tax you may be out of luck. The bill that was developed to help homeowners is stalled in the state General Assembly. As a result of this stall, Lake County Treasurer John Petalas has scheduled the first property tax sale in two years for July 9.

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What does this mean? It means that if you are behind on your property taxes like 24,000 homeowners are in Lake County you may need to work on getting the money together to pay your back property taxes before then.

Remember, even if your mortgage payment is current, but your property taxes are not you can still lose your home. The property taxes supersedes the mortgage payment, so most mortgage companies make sure they are paid. However, if the property is an investment property the latter does not hold true, so if you can pay your property tax before July 9, 2009 do so or you may lose your home to a tax sale.

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