Home Tax Solutions

About Home Tax Solutions

This author has not yet filled in any details.
So far Home Tax Solutions has created 31 blog entries.

January 31st is approaching

As Texans begin work on their New Year’s resolutions and get situated in 2017, they all know what the end of January means. January 31st marks the delinquency date for state property taxes in Texas. If your Texas property taxes have not been paid on or before this date, state law requires interest and penalties charged on any unpaid amount. 

hometaxjan

If you are unable to pay your Texas property taxes before the January 31st delinquency date, Home Tax Solutions can help. We will pay your property taxes and guide you down the path towards peace of mind. We find purpose in ensuring our clients keep they’re homes or properties, and are proud to have never foreclosed on anyone, ever.

With no cash due at closing and no credit checks, Home Tax Solutions makes it as easy as possible to get your head above water. Our team of real estate experts and property tax lenders, who have more than 50 years of experience, are eager to serve the Dallas County community. Don’t put off paying your Texas property taxes any longer, we can help. Visit our website or give us a call to begin the Texas property tax loan process.
January 12th, 2017|Comments Off on January 31st is approaching

Texas property taxes are due soon

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.

 

propertytax

 

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.
December 13th, 2016|Comments Off on Texas property taxes are due soon

How property taxes are collected in Texas

How property taxes are collected in Texas
Universal truth: taxes are confusing, and no one likes paying them. Sadly, we can’t make your taxes go away, but we can at least help eliminate the confusion.

shutterstock_342154160

Let’s start with the basics
Property taxes are assessed, set and collected on a local level. However, the entire process is governed by Texas state law. According to the Harris County Appraisal District, property taxes provide more tax dollars for local government services than any other source. They go towards schools, streets, police, and many other public services. 

Texas-sized standards
There are five standards for property tax laid out by the Texas State Constitution:
  1. Taxation must be equal and uniform.
  1. With some exceptions, all tangible property must be taxed on its January 1st market value.
  1. All property is taxable unless federal or state law provides an exemption for it.
  1. Property owners have a right to reasonable notice of increases in appraised property values.
  1. Each property in a given appraisal district must have one appraised value.
Major players in the Texas tax system
There are three main components in the Texas tax system: appraisal districts, appraisal review boards (ARB) and local taxing units. An appraisal district assesses the taxable properties in each county to determine the value of each property. If you disagree with the assessed value of your property, an appraisal review board will mediate the situation between you and the appraisal district. The tax rate is set by local taxing units, such as the county, school districts, cities, etc. The total amount of taxes set depends on how much the local taxing units determine they will need to spend that year. 

The process
There are four steps in the Texas property tax process: determining property value, appealing the values, adopting tax rates and paying the taxes.

Property appraisals typically begin on January 1st of each year. Property values are affected by property use, ownership and market conditions. Don’t agree with the assessed value of your property? Think you were improperly denied an exemption? Contact the appraisal review board. Once the ARB has heard your protests, the chief appraiser gives each taxing unit an appraisal roll. Around September or October, local taxing unit officials adopt tax rates. Tax collection starts as bills go out in October and November. Once you have received your bill, you have until January 31st of the following year to pay your taxes. If your taxes are still unpaid by February 1st, interest charges and penalties start piling up and may eventually lead to tax delinquency. To avoid heavy fines and to stay in control of your property, be sure to pay your bills on time. Or reach out to a Texas property tax loan agent to help you get on track!

Home Tax Solutions
Unable to pay off your Texas property taxes on your own? That’s where we come into play. Home Tax Solutions works with Texas property owners to create flexible, customized tax plans that can be paid off over time with low interest and no lump fees. 
Questions? We’re happy to help. Call Home Tax Solutions today. 1-800-643-8537
November 7th, 2016|Comments Off on How property taxes are collected in Texas

Important Things You Need to Know about Property Taxes

Texas Property Taxes

Let’s start with the basics: how does the state of Texas define property taxes? According to the Texas Controller of Public Accounts, “Property taxes are local taxes that provide the largest source of money local governments use to pay for schools, streets, roads, police, fire protection and many other services.”

shutterstock_272095901

Who decides how much you have to pay?

The process of setting rates and collecting taxes is established by local o cials. These o cials base tax rates o determined property value, making sure that values are uniform. If you disagree with your home’s assessed value, you have the option to appeal. If your property value is lowered, your taxes will also reduce.

Paying your taxes

Taxes are due annually, generally starting on October 1. If taxes are not paid by January 31 of the following year, they are considered delinquent. If the delinquent taxes are not paid by February 1, interest rates and penalty fees may be enforced. The best way to avoid delinquent tax fees: pay your taxes on time. If you know you won’t be able to pay your property taxes by January 31, reach out to a property tax lender for help.

We’re here to help!

Home Tax Solutions works with Texans to keep property in the hands of the owners. Together, we can create a flexible payment plan that fits your lifestyle and will help you avoid fines and interest rates.

Stay in control of your property taxes, call Home Tax Solutions today. 1-800-643-8537

October 25th, 2016|Comments Off on Important Things You Need to Know about Property Taxes

Tax Lien Transfers Help Make Homeownership More Attainable

Homeownership can be tough. From picking out the perfect tile to paying the bills, it’s quite the undertaking. We understand, and we want to take some of it off your plate. That’s why Home Tax Solutions offers flexible, low interest on your Texas property tax loans. 
 
Property Tax Planning is Key For Financial Success

 

Let’s be honest: no one likes paying taxes. But, for some people, taxes are more than just an inconvenience — they are a threat to their livelihood and their Texas property ownership.
 
In order to enforce property taxes, local governments place annual liens on privately owned land and property. Despite the state’s booming economy and low cost-of-living, many Texans find themselves in a bit of trouble trying to pay off their Texas property tax liens. That’s where lien transfers come into play. Tax lien transfers can have a bad connotation – some people say they encourage homeowners to take on more than they can handle, which will in turn lead to more debt that they are unable to pay off. Due to this belief, special interest groups have been trying to impose restrictions on the practice of lien transfers. However, the sole purpose of a tax lien transfer is to spread out tax payments using a flexible plan so that they don’t pile up.
 
In the past decade, property taxes have gone up nearly 80 percent, causing the average homeowner to spend 5 percent of their household income on Texas property taxes. This means an increasing number of families are in jeopardy of losing their homes, but not if we can help it. For those looking to ease the burden of the government-enforced upfront, lump-sum payments, Home Tax Solutions is here for you.
 
Here at Home Tax Solutions, our main goal is to keep property ownership in your hands. We have served thousands of Texans in need of relief on their property taxes, and we would be honored to do the same for you. 
September 23rd, 2016|Comments Off on Tax Lien Transfers Help Make Homeownership More Attainable

What the tax lien lending industry is doing to help consumers

Here at Home Tax Solutions, our primary goal is to help consumers. We understand that families of all income levels deal with property tax problems, and we’re here to tell you, it’s okay, we have a solution. The tax lien lending industry helps consumers avoid 48% tax bill penalties and, ultimately, maintain ownership of their properties. 

shutterstock_145552339
                                                
Lets talk numbers. 
                                                
In 2013, the foreclosure rate of tax lien transfers was 0.25%. This means that 399 out of 400 cases resulted in a happy ending for the customer. In fact, over 99% of tax lien transfers are successfully paid off! At the end of the day, we are here to make paying off your property taxes easier. 
                                                
What are the benefits? 
                                                
Keeping you in control of you property is our main objective. Home Tax Solutions offers liens to help you pay off your delinquent taxes at a flexible pace that is convenient for your lifestyle. Tax liens create an increase in tax revenue that provides funding to local hospitals, school districts and community programs. Our property tax loans keep the best interest of our customers, and the community, in mind. 
                                                
Home Tax Solutions 
                                                
We’ve provided loans for thousands of Texas residents in need of tax relief, and we would be honored to do the same for you. Let our team of passionate experts help you stay in control of your property. 
September 2nd, 2016|Comments Off on What the tax lien lending industry is doing to help consumers

5 Things to Know About Property Tax Bills

If you think Property Taxes are exciting raise your hand! Considering we don’t see any raised hands, we have determined we might be the only ones excited about them. But to get everyone else on our level, here is everything you need to know about property tax bills. Whether you pay property taxes personally or through your mortgage, this list will teach you everything you need to know about your Texas Property tax bill.

 

shutterstock_16049161

 

1. The State of Texas automatically puts a lien on your property every January 1
This is done in order to secure payment of property taxes. A delinquent property tax lien can hurt your chances of getting full market value for your property if you are considering selling.

 

2) Payment of the bill is due Jan 31st
Starting Feb. 1 unpaid taxes are subject to penalties or fees up to 42% of the original bill if unpaid by July 1st. Basically, tie a string on your finger or put it on your to do list. Whatever it takes to pay on time. 

 

3) The bill is calculated based on the value of the property and the tax rates set by each taxing entity. 
A typical property is taxed by several local entities. These entities could include a county, a city, a public school district, a college district, or a hospital district. 

 

4) Unpaid property taxes  may lead to foreclosures
Those home auctions you see on HGTV? Those are people, like you, who forgot to pay their property taxes on time.

 

5) Your government worker may forget about you
Not receiving a tax statement from your county doesn’t mean you got lucky this year. Texas law states the property owners are responsible for paying the bill even if the owner doesn’t receive it. If you do not receive a bill by Nov. 1st you should contact your local tax assessor.

 

An independent research organization, named Tax Foundation, found that Texas effective property tax rates for homeowners are the sixth highest in the country. For this reason alone, it’s important that you know the state’s Property Tax Laws so you can take control of your home tax situation. If you have any questions, let the pros at Home Tax Solutions be your guide.
August 22nd, 2016|Comments Off on 5 Things to Know About Property Tax Bills

Tax Lien transfers: a reasonable means of rectifying property tax obligations

First thing’s first: What exactly is a tax lien? A lien is a charge placed on property when there is an obligation or debt that needs to be paid. If you fail to pay the lien, you face the possibility of foreclosure. Yikes. Luckily, tax liens can be taken care of before reaching the foreclosure stage. To make informed decisions about your property taxes, you should first learn more about the tax and lien systems in your state. The following points are based off of information provided by the Texas Property Tax Lienholders Association.

Hometaxtsolutions_Blog2

Texas Property Tax System
Tax systems vary from state to state, so be sure to look up the specific guidelines of your state. Texas property taxes are about 2.5% of a property’s assessed value. Every January, tax liens are attached to properties for the following year’s taxes, and less than 5% of property taxes actually become delinquent, of which the TLT (Texas Lien Transfer) funds a small portion.

Where Do My Taxes Go?
Sometimes it feels like our taxes just fly out of wallets and disappear into thin air, so it’s beneficial to see how your taxes are being used. In Texas, property taxes are assessed, collected and used by local taxing entities to fund:

  • schools
  • roads
  • hospitals
  • fire departments
  • other

What happens if I can’t pay my taxes?

Delinquent taxes can result in large penalties, interests and fees. If these are left unpaid, it could lead to foreclosure. This sounds daunting, but don’t stress! There is a solution: Tax Lien Transfers. The TLT model offers property owners affordable payments to take care of their tax penalties and avoid foreclosure.

Texas TLT Model Benefits
Property Owners
First and foremost, the TLT model keeps the property owner in control. It does this by:

  • stopping the accumulation of interest rates and penalties
  • assisting property owners who are facing temporary financial setbacks
  • helping property owners avoid large lump-sum payments
  • helping property owners avoid foreclosure

Taxing Units
The TLT model is also beneficial to taxing units. It collects revenue that would otherwise be delayed, which in turn creates more available funding for schools, roads, etc.

Mortgagee
The mortgagee (the bank or other party who is the lender in a mortgage) also stands to benefit from the TLT model. It preserves their equity by helping them to avoid foreclosure proceedings, which can cost the mortgagee quite a bit.

Why TLT is the Solution For You
There are many options for taking care of your delinquent tax charges, however, we believe Tax Lien Transfer is the best one. While other options, such as refinancing with mortgage or a county payment plan, exist, they are often more costly to the property owner than a TLT. Unlike these other options, TLTs require no down payment and have flexible term limits.

The Methods
The Texas TLT Model can follow two different methods: Taxpayer Lead Transfer or Government Lead Transfer. Both methods ultimately lead to your liens being released and help to keep you, the property owner, in control.

Hopefully this has helped you understand tax liens a little better, and made them seem a little less scary. With our help and the use of lien transfers, you can take back control in no time.

August 10th, 2016|Comments Off on Tax Lien transfers: a reasonable means of rectifying property tax obligations

A Guide to Understanding Your Property Tax

Here at Home Tax Solutions, we know that property taxes are confusing. That’s why we have created a simplified guide to help you understand your property taxes.

shutterstock_372207496

Let’s start with the basics: What is a property tax assessment and how does it work?
A tax assessment is an opinion of value that is used as the basis for calculating how much a homeowner will pay in property taxes. The higher value given to a home, the greater a homeowner will pay in taxes. In nearly all cases, a tax assessment is based on the market value of a home. Procedures for conducting tax assessments vary from state to state, but typically an assessor’s job is to organize a community’s properties into different groups based on similar characteristics as well as individual aspects of a home.

My property was assessed…now what?
Now that your assessment has been reached, municipal governments apply a predetermined tax rate formula to determine your final property tax. This formula ensures that community has enough revenue to fund all budgeted public spending.

Opportunities to appeal
Disagree with a tax assessment? There are steps you can take to have it reviewed, but only if you believe there was an error in the assessed value of your home. This means that you cannot just contest your property rate tax because you don’t like the amount, you can only contest the value they placed on your home, which could in turn affect your overall property tax. Visit your local assessor’s office find out more about the review and appeal processes. Deadlines for appealing and assessments vary from state to state, so read your assessment notice carefully.

Home Tax Solutions: Who are we?
Home Tax Solutions is a privately held specialty finance company headquartered in Dallas, Texas. We offer property owners an easy, quick, and affordable solution to paying their delinquent property taxes. We believe in conducting business ethically and keeping our consumers’ financial recovery as our top priority.

Our Job
Home Tax Solutions offers property tax payment plans in Texas, creating affordable and flexible payment plans. With your consent, we pay your delinquent property taxes directly to the local taxing agency, which then transfers the tax lien to us. We provide tax lien solutions nationwide alongside municipalities and government officials to find solutions to unpaid property taxes.

For property taxes made simple, leave it to Home Tax Solutions. We’ve got your back.

Still have questions? Visit our website at www.hometaxsolutions.com.

August 1st, 2016|Comments Off on A Guide to Understanding Your Property Tax

How to Manage a Tax Collector Lawsuit

Sometimes no matter how much you focus on getting your payments in on time and handling your finances, you can still be faced with a lawsuit from the tax collection agency. When this happens, you might initially fear that you will lose your home or worse. But don’t worry; if you are faced with a lawsuit from a tax collection agency, you have options on how to move forward.

shutterstock_286663313

Don’t ignore it. Failing to respond to the summons or complaints you receive is one of the biggest mistakes you can make. When you can’t pay a debt you owe, your first thought might be that there is nothing you can do to remedy the situation. However, this is not true and failing to respond allows them to get a default judgment against you, giving them access to new ways to collect their dues.

The best course of action is to respond by denying liability in a court of law. This allows you to negotiate a settlement that can save you money. If you force them to take action, then the collection agency is likely to either back down or work with you to come up with a settlement plan. Either way, this is never a problem you can ignore.

Delinquent property taxes are subject to lawsuits that can lead to loss of your home. However, delinquent property taxes can cause more than just a foreclosure on your home. They can lead to additional costs for you that make it even harder to get back on your feet.

If this happens to you, remember you are not alone. Hundreds of Texans face lawsuits from tax collectors each month. The only way to avoid a foreclosure or the negative outcomes of a lawsuit is to pay the taxes and fines as soon as possible. If you do not have the money you need to get your taxes paid, then you need help immediately from a licensed property tax lender.

A property tax lender can help you determine a course of action. The tax property lender will help you get in contact with the law office handling your lawsuit to figure out your options and help you figure out what to do next.

When you are faced with losing your home, it is important not to ignore the issue, act fast, and understand that there are people to help.

June 29th, 2016|Comments Off on How to Manage a Tax Collector Lawsuit