Company pays big tax bill for Habitat for Humanity
Habitat for Humanity of Coastal Fairfield County now has a home its volunteers can rebuild and sell to a low-income family after a financial company took care of a $27,000 overdue property tax bill on the home.
The duplex unit in Bridgeport had been abandoned by its previous owners. They had accumulated $12,500 in property taxes owed to the City of Bridgeport. Interest and penalties had swelled the bill to $27,000. The City had taken ownership of the property through foreclosure and sold it to Habitat for Humanity. But the overdue taxes, plus penalties and interest, had to be paid before Habitat could rebuild and sell the home.
Propel Financial Services, which held a lien on the home’s property tax bill, recently stepped in and paid off the late taxes on behalf of Habitat for Humanity. “That was a huge help to us because we can’t sell a home that has a lien on it,” said Stuart Adelberg, CEO of Habitat for Humanity of Coastal Fairfield County. “Thanks to Propel, we’re now free to find a deserving family to work with us to rebuild and buy the home, which is at the core of Habitat’s mission — helping people with limited financial resources afford a decent place to live.”
Adelberg said the home needs work to be ready for sale. He hopes Propel’s donation will inspire other businesses in the area to help with the improvements the home needs. “We’re glad we could help Habitat for Humanity take the first step in getting this house ready for a family that needs a home,” said Dale Kocher, Propel Financial Services Director of Acquisitions. “Habitat for Humanity does so much to provide clean, secure housing to low-income families and we are honored to support their community redevelopment efforts.”
About Propel Financial Services
Propel Financial Services is a national property tax finance company that provides payment solutions to property owners, municipalities, and government officials. Propel acquires and services tax liens in 22 states and is a key player in helping pass legislation to provide tax payment options and regulatory protections to property owners. The company works directly with property owners in Texas, Nevada and Virginia to structure property tax payment plans for owners. Propel is recognized as a top employer and is the recipient of the San Antonio Express-News’ Top Workplace Award for five consecutive years. Founded in 2007, Propel is headquartered in San Antonio. More information can be found at propelfinancialservices.com.
About Habitat for Humanity of Coastal Fairfield County
Habitat CFC is an independent, locally run, IRS 501(c) (3) organization, headquartered in Bridgeport and working throughout Coastal Fairfield County. Habitat CFC has built over 200 homes in Fairfield County since 1985. Habitat CFC is a local affiliate of Habitat for Humanity International (HFHI).