Why Paying Your Property Taxes Now With A Property Tax Loan Will Save You Money

If you find yourself in the place of many Texas property owners and are unsure how you can take care of your property tax bill, you may want to consider a property tax loan. Compared to late or non-payment on your annual property tax bill, as well as the fees and penalties associated with late payments, a property tax loan can save you money. 

Considering the high percentage rate of penalties, if left unpaid, your property tax bill can grow exponentially. County penalties start at 7% in February, increase up to 2% more during months March and April, and continue its increase to up to 3% more in June. Come July, property owners will find a collection notice in the mail, and additional penalties from the county attorney for up to 20%. This can make an already overwhelming situation dire. 

By contrast, the average residential property tax loan interest falls around 13% which is just over 1% each month. Taking out a property tax loan will put you on an affordable payment plan with interest that is likely lower than any penalties the county may charge you. 

With a Texas property tax loan, you can also pay off all past due tax amounts, court expenses, penalty fees, and interest on your taxes before the 42% June penalty. Because the loan will cover your taxes all at once, this can give you more time to gather the funds necessary to pay without incurring additional penalties from the county. With a property tax loan, you can start saving to pay next year’s taxes as well so you can avoid the monthly penalties and high interest the county charges for the next year. 

Instead of using your hard-earned savings to pay your property tax bill, putting a hole in your pocket, a property tax loan can help minimize payments and keep more money in your pocket. This way, if an emergency were to ever arise, it would be better to have money on-hand and keep your financial safety net. 

Property Tax Loan Specialists at Home Tax Solutions

Property taxes should not be a burden on your everyday life. Home Tax Solutions offers single-digit interest rates, which is less than 1% monthly for the duration of the loan. Plus, if you can find a lower rate, we will beat it.