Your property taxes are due soon. But don’t sweat, Home Tax Solutions is here to help you understand the legal jargon of property taxes and help you pay before the fines start pilling up.
When should property taxes be paid?
Ideally, your Texas property taxes should be paid as soon as you receive the tax notice, but you have until January 31st to pay without incurring penalties or interest. Beginning February 1st, a 7% penalty will be applied and accrue monthly until your taxes are fully paid. If you decide to pay your property taxes by check, make sure to add the Property Account number to your check. It can be found on the tax statement and will always start with either a R, P, or M. To ensure any unnecessary fines, always ensure your payment is postmarked before the February 1st delinquency date.
How can I avoid paying a penalty or interest?
As stated above, the only way to avoid paying fines or accruing interest is to pay your property taxes in full before February 1st. There are no exceptions, and tax collectors have no authority to waive any charges on unpaid taxes. Initial penalties begin at the statutory rate of 6% on the 1st of February, increasing 1% every month until July 1st, when it reaches a maximum of 12%. Interest on unpaid property taxes starts at 1% on the delinquency date, and increases an additional 1% each month.
Do I have to pay all my taxes at once?
The simple answer is no. You have the option to make partial payments or you can make separate payments for the county, school district, and incorporated city taxes. However, any remaining amounts left unpaid on February 1st will start accruing penalties and interest. If you decide to pay a smaller portion of your property taxes starting in October, be sure to write the property account number and “Partial Payment” on the check. Remember that any amount not paid in full by June 30th will be sent to collections and will incur up to 20% of the total fees due in additional penalties.
We can help!
Home Tax Solutions was founded to help alleviate the concerns and anxiety associated with unpaid property taxes. Our work is simple, we are a property tax lender who helps you pay your Texas property taxes, hassle free. It is our goal to lighten your financial burden and we will always work with you to ensure that you never lose a property. We’ll pay your property taxes; visit our website or give us a call to get started today.