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Small Businesses: Pay Attention to Property Taxes

Property taxes often can sneak up on small business owners. The consequences of forgetting or not paying property taxes can be serious, such  as late fees, interest and even foreclosure proceedings.

Some ways you can better manage your property taxes:

Any creditor that comes with an 18% annual interest rate and has the authority to take your property has to be given your highest priority. This underscores the importance of paying property taxes when due or, if past due, getting on a payment plan. Failure to do so could have dire consequences including loss of your property through a tax sale.

This week’s blog contribution was written by Jerry Holden, a Credit Analyst at CDC Small Business Finance. Thanks Jerry!

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