Tax question for my investment property

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Tax question for my investment property

Joshua Kavadi
Atlanta, GA · Member since 2025 · 132 posts · 30 votes

Hi All,

I have received a tax due $4500 for my investment property due is Feb2026, I cannot pay because I dont have money and my house is in the market and not sold yet. waiting to happen ASAP. please suggest any options how to resolve this issue .

thanks

Joshua

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    9mo
    Quote from @Joshua Kavadi:

    Hi All,

    I have received a tax due $4500 for my investment property due is Feb2026, I cannot pay because I dont have money and my house is in the market and not sold yet. waiting to happen ASAP. please suggest any options how to resolve this issue .

    thanks

    Joshua


     Have you tried a bridge cash out to payoff the tax due?

    [email protected]818-269-7983
    LuxePrivate Investments LLC 570 Reviews
    WebsiteView Page
    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    9mo

    The property tax is due on the same property that is on the market?

    The worst case is that the taxes will be paid at the time of closing.

    The way property taxes work in most counties is as follows

    Property taxes due by specific month
    If paid early, there is a discount
    If paid later, there is a penalty.

    Worst case is that you might pay a few percentage points in a penalty.
    You just want to avoid a situation where the property is not sold for a couple of months and it goes to a tax sale.

    Best of luck

    [email protected]917-280-8544
    Basit Siddiqi CPA4.880 Reviews
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