Triangle home owners facing financial crisis

December 31, 2008 3:47:40 PM PST
Durham County property owners are opting to pay late penalties.In Durham County, property taxes are due next week, but there is a big spike in the number of people willing to pay late penalties if they can pay in installments.

Million dollar golf course mansions surround north Durham's Treyburne Country Club, but the owner of two homes has one for sale for less than the tax value.

The owner also owes Durham County $28,000 in property taxes and wants to make late payments.

And near NC Central University, the famous Chicken Hut of Durham owes $3,300 in property taxes and also wants to pay late.

Installment plans will cost late payers the equivalent of 10 percent in annual interest.

Durham's head tax collector actually applauds people for coming forward early before taxes are due.

And most have already paid in full. But late payers, who called early, will avoid the first steps toward foreclosure.

Property tax payers have two more days, Friday and Monday, to contact Durham County about an installment plan. But only real estate qualifies.


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