A Texas state tax lien can have a severely negative impact on your credit rating. If the Texas state comptroller places a tax lien on your property, it may take as long as 15 years to remove the lien from your credit history.
Tax Lien Definition
A tax lien is a charge that a creditor imposes on property when the property owner fails to fulfill an obligation, such as paying the appropriate taxes.
Texas Taxes
Texas does not have a state income tax. However, Texas has significant property taxes. The state also has a variety of other taxes, such as sales tax, franchise taxes and insurance taxes. If an individual fails to file required tax reports and pay owed taxes in Texas, the state comptroller will file a tax lien against the delinquent individual.
State Law
State law requires that the comptroller secure all delinquent taxes, fines, penalties and interest through a lien.
Unpaid Tax Lien
Texas state tax liens remain on the delinquent individual's credit report, if gone unpaid, for 15 years.
Paid Tax Lien
If an individual satisfies the Texas state tax lien, it will stay on the individual's credit for seven years after the date of satisfaction.
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