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What Property Tax Relief Measures Are Available to Veterans?
Texas’s property tax relief laws offer valuable financial support to veterans who have served their country. These laws include a range of exemptions and benefits designed to lessen property tax burdens, recognizing veterans’ sacrifices and contributions. In this blog, we’ll explore the various property tax relief options available to veterans in Texas, with a focus on measures that apply specifically to veterans. For expert advice and loan quotes related to property taxes, contact American Finance and Investment Co., Inc. (AFIC).
A Guide to Delinquent Property Taxes and How You Can Pay Them
For homeowners, unpaid property taxes can be a financial burden. Property tax arrears can result in fines, interest, and even the possibility of losing your home due to delinquent property tax issues. The length of time you can go without paying property taxes, your options if you can’t, and the significance of applying for assistance through property tax relief programs are all covered in this blog post. Consider contacting American Finance and Investment Co., Inc. (AFIC) for professional advice and a loan quote if you are in a difficult circumstance.
Myths About Texas Property Tax Loans
There are a few myths about Texas property tax loans. We want to educate you so you can feel comfortable utilizing property tax loans as a helpful financial option. These myths can cause unnecessary worries and uncertainty. In this educational article, we’ll dispel some widespread misconceptions regarding Texas property tax loans so that you have the facts you need to choose how to handle your property tax responsibilities. We’ll also explain how American Finance and Investment Co., Inc. (AFIC) can help you with your property tax payments.
Navigating the Complexities of Property Taxes in Texas
As the year draws to a close, Texans face the financial challenge of managing property taxes, a significant aspect of their fiscal responsibilities. In this blog post, we will unravel the intricacies of Texas’s property tax landscape, offering valuable insights and practical tips to empower you in your financial decisions. Join us as we explore the nuances of property taxes and how American Finance and Investment Co., Inc. (AFIC) can assist you in finding the right solutions.
Why Do Property Taxes Fluctuate?
Texas homeowners frequently wonder why their real estate taxes appear to fluctuate from year to year. Planning your finances wisely requires understanding the variables that affect how much your property taxes change over time. This guide examines the key players in the Texas property tax system, the formula used to determine property taxes, regional variations in property tax rates, and the state’s initiatives to rein in property tax appraisal rises.
How Do I Read My Texas Property Tax Bill?
Property tax bills might be complicated, but understanding them is essential if you want to avoid paying too much in taxes. Knowing how to read your property tax bill correctly is especially crucial if you live in Texas, where property taxes account for a sizable portion of homeownership costs. This blog post will cover the elements of your property tax statement and give you useful information to make sure you’re paying the appropriate amount.
Do Delinquent Property Taxes Affect Your Credit?
Do delinquent property taxes affect your credit? The answer is yes, but there is help. You can inquire about payment arrangements or exemptions with the county or get a property tax loan to address your delinquent property tax issues. How is your credit score affected, and what is a property tax lien?
Can Low-Income Homeowners Get Property Tax Help in Texas?
Are you wondering if there is any property tax help for low-income homeowners in Texas? We understand receiving your property tax bill can feel overwhelming, but there is hope. Let’s discuss the options available to you.
Paying Your Property Taxes in Texas: What Are Your Options
Paying property taxes in Texas does have its challenges, and there are several solutions if you cannot pay all the due taxes before January 31st. When your property tax is above $3,500, consider getting a property tax loan. Let’s look at the county payment options that might be available.
What to Look For in a Property Tax Lender
Do you need a property tax lender because you received the property tax bill on your residential and/or commercial property, and you know you don’t have the funds immediately available but want to pay your taxes to avoid the punitive interest, fees, penalties, and foreclosure risk? Then, you need the right kind of Texas property tax lender. First, let’s review what to look for.
How to Get Property Tax Liens Removed in Texas
Every year on January 1st, a property tax lien in Texas is automatically attached by appraisal districts to each taxable property. It is designed to ensure property tax is paid as it is used for schools, roads, libraries, parks, police, fire protection, and other public services. Are you wondering what a tax lien is and how it can be removed from your property? Let’s discuss it further.
I Was Hit With a 23% Property Tax Penalty – What Now?
Did the July property tax penalty shock you when you received the notice? The collection fees, penalties, and interest on property taxes will only grow and can be around 48% of your original property tax bill in the first year alone. If you are unable to pay your property tax account on the due date, it is advisable to make alternative arrangements well before January 31, whether with your bank, local tax authorities, or a property tax lender such as American Finance & Investment Company, Inc. (AFIC). You received a big property tax penalty, but what now?
Paying Late Property Taxes in Texas: What to Know
Leaving late property taxes unpaid in Texas has consequences for the property owner and the community at large, as the funds are used by local governments to pay for schools, streets, roads, fire protection, police, and other services. How does it affect you as a residential or commercial property owner?
What Do You Need to Get a Property Tax Loan in Texas?
Looking for a property tax loan in Texas? Before you find out what you need and if you qualify, you should determine if the property tax lender you are considering is trustworthy and has sufficient experience in the business. When you choose American Finance & Investment Co., Inc. (AFIC) for your loan to pay off property tax debt, you get more than 70 years of Texas lending experience and expert property tax loan knowledge and a company with an A+ Better Business Bureau (BBB) rating. Let’s discuss how you can get a property tax loan.
What Happens to the Property Taxes When a Homeowner Passes Away?
Who is responsible for paying taxes for a deceased person? The homeowner should clearly state who the responsible person is in their estate planning documents, as it will ease the burden of the loved ones they leave behind. Property tax is only one of the tax liabilities at death and becomes part of an estate like other debts such as car payments. Who might be nominated to pay the taxes, and what happens if one dies without a will?
Texas Property Loan FAQs: Answers From Property Tax Lenders
Are you wondering how Texas property tax loans work and if you will qualify for one? American Finance & Investment Co., Inc. (AFIC) has more than seventy years of experience providing consumer loans and understands your need for more information. Here are answers to some of the frequently asked questions (FAQs) people have about property tax loans in Texas and paying your property taxes.
A Complete Guide to Commercial Property Tax Loans
Are you tired of worrying about the burden of paying property taxes for your business? Look no further! This comprehensive guide covers all you need to know about commercial property tax loans.
Whether you’re a seasoned business owner or just starting out, discover the essential information you need to navigate the world of property tax financing - from understanding the basics to exploring your options and finding the best fit for your business.
How to Reduce Your Commercial Property Taxes in Texas
As far back as ancient Roman times, tax has been as much a fact of life as death. Like Caesar, commercial property taxes in Texas can seem intimidating and unavoidable. With so many factors affecting the amount of property taxes owed, it can be a confusing and overwhelming process. But just as Caesar conquered the known world, you too can conquer the world of Texas business property tax.
Instead of dreading the process, take a proactive approach and educate yourself on the ins and outs of the process. With the right knowledge and preparation, you can reduce your commercial property taxes bill.
So, let’s take a deep dive into the world of commercial property taxes in Texas, exploring everything from how properties are assessed to the steps you can take if you’re facing difficulty paying your taxes.
What to Know About Commercial Property Taxes in Texas
The good news is that the economy of the Lone Star State is booming! The bad news relates to how that affects commercial property taxes in Texas.
Benefits of a Commercial Property Tax Loan for Your Business
As a Texas business owner, you are known for your hard work and dedication to your firm. You may not instinctively consider the benefits of a commercial property tax loan - as you tend to be a self-starter who values independence and self-reliance. If this sounds familiar, you are in the right place! Read on to discover how you can leverage a loan to pay commercial property tax to benefit your business.
Can Someone Take Your Property By Paying the Taxes?
If you owe outstanding taxes on your Texas property, you may wonder, can someone take your property by paying the taxes? In Texas, the short answer is no - paying someone else’s property tax is not enough to claim ownership over that property. Texas has a tax-payor-led system, i.e. the payor has to consent to the transfer of a tax lien. The county cannot simply assign a tax lien to somebody else unilaterally, which means that nobody can simply take over your property by paying the taxes. Here’s what you need to know.
Is There a Difference? : Real Estate Taxes vs. Property Taxes
Real estate taxes vs. property taxes - aren’t they the same thing? Well, sometimes. The two terms are often used interchangeably, but they have different essential meanings, and there are certain situations where property taxes are not the same as real estate taxes. This short guide will help you understand the difference.
Types of Property Liens in Texas & What You Should Know
With any debt, there are risks for both the lender and the borrower. One of the ways in which lenders protect themselves against potential nonpayment risks is through liens, such as property liens. A property lien is a legal claim against a piece of personal or real property due to contractual obligations. There are, however, different types of property liens.
Property Tax History: The History of Property Tax in Texas
Property taxes have been a part of the state of Texas since its inception. Over the years, the property tax system has undergone many changes, yet nearly two centuries after its creation, it remains a vital source of revenue for local governments in Texas.
Who is to Blame for the Rising Property Taxes in Texas?
Texas property tax rates have long been a sore spot for property owners throughout the state. It is a widely known fact that Texas has some of the highest property taxes in the country, largely due to the absence of personal income taxes and the fact that property tax rates are set on a local government level rather than a state level.
Property Taxes in Texas Compared to the Other States
With no national property tax, states are left to set their policies and rates. Some states are more dependent on the income generated by property tax than others. As a result, some states charge lower rates - or none - while others pay relatively high taxes on their property owners. Texas has long had the reputation of collecting some of the highest property taxes in the country - but just how high are property taxes in Texas, and where do they really stand in comparison to other states?
Tips for Protesting Your Property Taxes in Texas
Property taxes in Texas are one of the biggest expenses faced by homeowners. A fair and correct property appraisal is crucial in determining whether you are paying the right amount of ad valorem taxes. Consequently, it is important that if you do not agree with the appraised value of your home, you file a protest with your Central Appraisal District.
How Long Can You Be Delinquent on Your Property Taxes in Texas?
If you own a property in Texas, you have likely felt the weight of annual property taxes. Texas property taxes are known to be high and unavoidable in owning property in the Lone Star State.
Delinquent Property Taxes: Terminology You Should Know
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In times of financial uncertainty, many important payments can get pushed to the side; your property taxes should not be one of them. Unpaid (delinquent) property taxes rapidly accumulate interest, fees, and penalties and, in the worst cases, can even result in foreclosure. If you are sitting with a delinquent property tax bill and are struggling to navigate the finer points of what specific terms mean, we can help. You can use this glossary of terms and definitions to better understand the terminology you will likely come across while trying to settle your property taxes.
How Many Months of Property Taxes Are Collected at Closing in Texas?
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For new or prospective homeowners, taking the leap of buying a house is an exciting life event. However, while seasoned homeowners will likely be familiar with the costly responsibility of property taxes, it is easy for new home buyers to overlook these costs when putting together their budget.
Why Do Some People Have Multiple Tax Bills?
Property taxes are an important part of the upkeep of Lone Star State as a whole. In the absence of personal income tax, Texas’ property tax revenue and sales tax revenue are the primary sources of funding for local services. Property tax revenue helps pay for public schools, libraries, playgrounds, city streets, county roads, police, fire protection, and emergency medical services, among other things.
When Will I Receive My Texas Property Tax Bill?
The day your property tax bill is mailed out is likely not one that you mark on your calendar, but it may be useful for Texas property owners to pay more attention to the property tax calendar. Delinquent property taxes incur interest and penalties rapidly, leaving many property owners in dire financial straits. Getting ahead of these penalties by paying your property taxes on time is essential, and the first step is knowing important property tax dates.
How are Property Taxes Handled at Closing in Texas?
Property taxes are an unavoidable responsibility every Texas homeowner needs to fulfill. When purchasing your first home, property taxes at closing may not be something you pay much attention to, but you may want to. We’ve put together this guide to help first-time homebuyers understand how escrowed property taxes are handled at closing in Texas.
Are Property Taxes Paid in Advance or Arrears in Texas?
The Texas property tax cycle rolls on from year to year. What’s known for sure is that you will receive a bill in October or November, which you need to pay by January 31st. What some people don’t often consider is whether the taxes they are paying are in arrears or in advance. Here is a short but definitive explanation.
When Do You Start Paying Property Taxes on a New Home in Texas?
One thing all Texas property owners know is that they have to pay property taxes. What is less certain for some is when exactly they are required to pay them. Specifically, how long after buying a new home will your first tax payment become due?
What Kind of Regulations Are There for Property Tax Lenders?
Like any financial service provider, Texas property tax lenders are subject to a number of regulations that they’re required to comply with in order to stay in business. These regulations protect all parties - especially the borrowers - against any potential negative impacts of loan agreements. What are the regulations for property tax lenders, and who administers them?
How to Estimate Property Taxes in Texas
As a homeowner in a Texas municipality, you may not even know exactly how your property taxes are calculated. It is vital to your financial well-being that you can make a fair estimate of what you will owe on your property in a given year. If you don’t know how to estimate property tax, read through this guide, which will give you an idea of how these taxes are calculated. You can use this knowledge to forecast your own expenses and budget accordingly.
Who is the Fastest Property Tax Lender in Texas?
Waiting to pay your property taxes can have serious financial ramifications, and ignoring the consequences won’t make them disappear. No matter how much you avoid a problem, it won’t go away, especially when it comes to unpaid residential or commercial property taxes. If you are struggling to pay your property taxes or any penalties and interest that have accumulated, a property tax loan from a reputable lender can give you the payment freedom and peace of mind you need.
What is the Property Tax Collection Process After July 1?
Annual property taxes in Texas are some of the highest in the country. With no personal income tax, Texas is dependent on the revenue from property taxes in order to pay for essential resources for its citizens. Because the revenue from property taxes is so important, the state adds severe penalties and interest to unpaid property tax bills. Texas laws dictate that, as of July 1, tax collectors may pursue lawsuits against delinquent account holders to collect unpaid taxes.
What Are the Penalties if I Don’t Pay My Property Taxes by July 1?
The deadline for annual property taxes is January 31st. If this deadline is missed, property owners face rapidly accumulating interest and property tax penalties on their delinquent accounts. The penalties on the outstanding balance accumulate steadily until July 1, when the biggest penalty of the year is placed on all delinquent property tax accounts in accordance with Texas property tax laws.
Does a Property Tax Loan Add a Lien to My Property?
Many Texas homeowners are unsure about liens, how they apply to their properties, and how they change with property tax loans. Many people ask us if a lien is added to the property when they take out a loan. The simple answer is that no additional lien is added, but the one that already exists is transferred to the property tax loan lender. Let’s take a look at this in a little more detail.
Who is Linebarger Goggan Blair & Sampson, LLP, and What Do They Do?
Linebarger Goggan Blair & Sampson, LLP is a Texas-based legal firm specializing in third-party debt collection for public sector clientele. LGBS is known to focus on collecting delinquent government debts, meaning they collect outstanding payments for taxes, parking tickets, traffic citations, toll violations, etc., on behalf of the government.
How Much Do I Really Pay in Penalties & Interest if I Don't Pay My Property Taxes?
Texan property owners are mostly well aware of the fact that they face some of the highest property taxes in the country. However, the tax rates themselves pale in comparison to the bill you will have to deal with if your property taxes become delinquent.
The Texas Homeowner Assistance Fund - Do You Qualify?
In February 2022, the Texas Department of Housing and Community Affairs introduced a new $842.2 million fund to help Texan homeowners who have been hard hit by the economic consequences of the COVID-19 pandemic. The Texas Homeowner Assistance Fund (TxHAF) is designed to help qualified homeowners who have fallen behind on their mortgage, property taxes, property insurance, or HOA/condo fees.
At What Age Do You Stop Paying Property Taxes in Texas?
Is there any relief from Texas property taxes - a point where you, as a homeowner, can stop worrying about them? Unfortunately, there is no way to shake property taxes off entirely, but when you reach a certain age, you are eligible for some relief.
Need Help With Lowering Property Taxes in Texas? Here Are Some Tips!
Property taxes can be a heavy burden for homeowners - especially here in Texas, where we pay some of the highest rates in the country.
Comparing a County Payment Plan vs a Property Tax Loan
Should you get a property tax loan or a county payment plan for outstanding property taxes? To find out what’s best for you, we’ve created this guide to help you decide.
Property Taxes: The Cost of Doing Nothing
Texas property taxes are regarded as an unreasonable burden by many Texan homeowners. Unfortunately, however, they are here to stay and must be managed. Paying property taxes might be painful, but failure to do so is guaranteed to hurt even more.
Need a Fresh Start?: What to Do When You Want to Change Property Tax Lenders
If you already have an existing agreement with a Texas property tax lender and decide you would like to switch to a new lender, this can be done, depending on the current status of your loan.
Is it Possible to Avoid Paying Property Taxes in Texas?
Texas property taxes are an unavoidable reality for all homeowners in the state. At some point, almost every Texas property owner has asked: “How can I avoid paying property taxes in Texas?” American Finance & Investment Co., Inc (AFIC) provides the answer, but it is not a straightforward one, nor is it likely to be the answer you want to hear.
Are You Getting All of Your Texas Property Tax Reduction Breaks?
All Texan property owners are well aware of the burden of Texas property taxes. We have all had to accept the fact that, despite the protests raised over the years, these taxes and the high property tax rates are not going anywhere. That being said, there are ways for some people to reduce their liability and benefit from property tax relief. As a homeowner, you have to accept that you are liable for property tax, but you also want to ensure that you are not paying more than you need to. Although tax reductions for the average homeowner are not likely to be in the cards anytime soon, the law does make provisions for breaks and reductions for people who fulfill certain criteria. This article will lay out the requirements you need to meet to qualify for these exemptions so you can start the necessary steps to take advantage of them.
'Tis the Season of Giving: Client Dallas Cowboys Tickets Giveaway
What a year 2021 has been! Unbelievably, we are already in the midst of the holiday season, with Halloween having just passed, Thanksgiving on the way, and Christmas coming hot on its heels. American Finance and Investment Co., Inc. (AFIC) is celebrating the season of giving by offering a giveaway of coveted Dallas Cowboys tickets for their December 26th home game against the Washington Football team.
The Frustrations of Increased Texas Property Taxes
For decades, high property taxes have been a complaint among Texas homeowners, yet it remains a relevant, hot-button issue. The reason for the ongoing property tax frustrations is that the problem not only never goes away - it seems to get worse. Property tax hikes anger city residents throughout the state as lawmakers promise relief but deliver very little. So, what is the reason for this seemingly interminable state of affairs, and what can be done about it?
How Texas Property Tax Loans Work
Texas property tax loans provide a manageable way for you to alleviate your monthly payment property tax debts. If you owe delinquent property taxes and penalties, these loans are an excellent option for you. If you are looking for property tax help in Texas, read on to find out how Texas property tax loans work.
As a Texas property owner, you are probably all too familiar with the frustrations of our state’s property taxes. As Texans, we pay some of the highest annual property taxes in the country, and your liability can quickly grow beyond your means if you miss payments. The interest and penalties pile up and, before you know it, the amount you owe to the authorities is not feasible for you anymore. Missed payments also lead to delinquency on your taxes. If delinquent taxes aren’t paid, the consequences can be severe, and your home can even go into foreclosure. If you are in this position, don’t worry. You are not alone, and there is help available to you. American Finance and Investment Co., Inc. (AFIC) is a reliable property tax lender that provides flexible property tax lending solutions that enable you to settle your tax debt and work out easily manageable monthly payment repayment plans that suit your budget.
Are Property Tax Loans a Good Idea?
Texas is widely known to have some of the highest property tax rates in the United states, which means many Texas homeowners struggle to keep up with their annual property tax bills. Unfortunately, state, county, and municipal governments are not doing very much to offer help or relief, so where do these vulnerable homeowners turn? Property tax loan lenders provide a fast and flexible solution, but many homeowners are slow to act, wondering whether property tax loans are a good idea.
Texas Property Taxes: A High Price to Pay
Are Texas property taxes too high? The answer to this question depends on your point of view. From the homeowner’s perspective, it is undoubtedly the case that they are paying a seemingly unnecessary amount in property taxes. State, county, and municipal authorities see the situation differently. These two irreconcilable viewpoints have held the situation in a stalemate for decades. The public demands relief, but the authorities are slow or completely unwilling to provide it.
The Next Big Thing in Texas Property Tax Loans
The government of Texas has been inundated with calls to reconsider property tax rates for many years. Unfortunately, property owners in the state continue to pay some of the highest taxes in the country. The next big thing in property taxes is the fact that the Texas legislature is finally talking about the possibility of offering relief to taxpayers.
Property Tax Loans: Expectations vs Reality
Residential and commercial property tax payments are a thorn in the side of all Texas property owners. They are higher than anywhere else in the country, and they can quickly become unmanageable if left unpaid. Some may not know a lot about property tax loans or have misconceptions about them, but thankfully, most property tax loan expectations do not match reality. In this article, American Finance & Investment Co., Inc. (AFIC) debunks some of the most common misconceptions about taking out loans to pay off property taxes.
AFIC Gives Back to the Texas Community
American Finance & Investment Co., Inc (AFIC) and its subsidiaries have been operating in Texas since the 1940s, providing financial services, and more recently, property tax loans to countless individuals and companies and giving back to our community. Learn about the history of AFIC and its philanthropic and charitable ventures to give back and support the Texas community and future generations.
What If I Don’t Receive a Property Tax Statement in Texas?
During the year, Texas county appraisal districts evaluate the value of properties within their county. From those valuations and after applicable protest periods have expired, and respective taxing entities have ratified their tax rates, property tax bills begin to get delivered electronically and by mail to property owners around October 1st of each year. Generally, owners have until January 31st of the following year to pay their taxes before penalties and interest occur. But what happens if the end of January is approaching and you still haven’t received your property tax statement? Continue reading to learn why this may have occurred and the steps to take to ensure you are not late and end up with a delinquent property tax bill.
Property Tax Risks for the Texas Hospitality Industry and How to Mitigate Them
Texas’s hospitality industry has had a harrowing journey through COVID-19, with many businesses hit yet again during the 2021 Texas Power Crisis. Hotels, restaurants, and other businesses in this sector face risks associated with their property taxes when catastrophic events bring businesses to a near halt. This blog post will examine some of the risks businesses in this sector may face with their property taxes and what steps owners can take to mitigate them.
Tips to Avoid Property Tax Foreclosure in Texas
Every year, property owners in Texas must pay their property taxes on time to avoid costly penalties and interest. These costs can approach 43% in the first year alone, and there is no cap on interest that is charged on delinquent taxes. Property owners who continue to be outstanding on their property taxes can face property tax foreclosure due to back taxes. Here we will look at strategies Texans can use to avoid property tax foreclosure and protect their home.
The History of Property Tax Lending in Texas
In Texas, lawmakers started tightening tax policies and improving tax collections at the end of the 19th century. Unfortunately, they lost much of the progress made during the Great Depression in the 1930s. Around this time, property tax lending in Texas started its long history to help struggling property owners avoid foreclosure. Today, new regulations have been made to protect consumers and homeowners, making property tax loans a powerful product for preventing foreclosure.
When is a New Homeowner Liable for Property Tax in Texas?
When buying a new home in Texas, you will become responsible for any taxes not paid after the closing or unpaid taxes that preexist closing. It is critical that your realtor or lawyer contact the county title office to determine if there are any tax liens on the property to correctly calculate how much property taxes you and the seller will owe upon closing. Here we will look at who pays property taxes and an example of how property taxes are prorated.
How Is My Property Value Determined in Texas?
When your county determines the amount of property taxes each property owner will be paying, they use the set tax rate and the property value ascertained by the county appraisal district. Here we will be looking into how property is appraised in Texas and the three commonly used methods when valuing a property. We will also review what you can do to evaluate if your property was valued correctly and how this can affect your property tax bill.
If My Texas Property Gets Foreclosed on for Taxes, Can I Buy it Back?
Foreclosure is the legal process that a lender initiates to attempt to recover the balance of a loan in the case where the borrower has failed to make the scheduled payments. There are multiple reasons why your home could be foreclosed, from not paying your mortgage or defaulting on home equity loans.
We shall focus specifically on a property tax foreclosure, where the local government initiates a foreclosure once property taxes have become delinquent. This particular foreclosure is a judicial foreclosure, which is a long process, allowing you opportunities to save your home before, during, and even after the foreclosure sale by “redeeming” your property.
When Are Texas Property Taxes Due?
Property taxes may come in the form of an annual tax statement, but several dates are important for homestead owners to take note of throughout the year. Key Texas property tax due dates include when taxes are due and when penalties and interest will begin to accrue on any delinquent taxes. Continue reading to learn about some key property tax dates and payment options that are available to property owners in the state of Texas.
Texas Property Tax Glossary
Home property taxes are taxes paid on real estate property that individuals, homeowners, or corporations own. Property taxes are based on the property’s assessed value and many consider them a regressive tax. These taxes are used to fund services such as schools, law enforcement, fire protection, education, road and utilities, and other community services.
Texas has no state property tax. Instead, local governments, such as counties, set the tax rates and collect the taxes used to provide services in their locality. Here is a list of terms and definitions that you will come across when learning about the Texas Property Tax. You can learn more in the Texas Property Tax Basics guide.
How is My Texas Property Appraised?
How much property tax you will owe each year is determined by the tax rate set by the county the property is in and the value of the property. The process of valuing a property is called an appraisal value of homes and is managed by the county appraisal district. Here we will examine how property appraisal methods are conducted in Texas and your options as a property owner if you disagree with how your property was valued.
What Happens After I No Longer Qualify for a Property Tax Deferral in Texas?
A property tax deferral is a useful tool available to qualifying Texans that can be used to defer or delay when they have to pay their property taxes to the government. But there are circumstances in which taxpayers who once qualified will no longer be able to defer their taxes. Here we look into what a tax deferral is, who can get one, and what happens when you no longer qualify for a deferral. We will also discuss what you can do when the deferred tax and accrued interest are due for payment.
What Is a Tax Lien Foreclosure?
The judicial foreclosure process, which is used to foreclose on tax liens,is when the local government forecloses on a property because the owner has failed to pay their delinquent taxes. Texas has some of the highest property taxes in the country, resulting in many people not being able to afford to pay. When a property owner in Texas fails to pay what they owe, the government enforces their tax lien. The tax lien certificate serves as a legal claim against the property for the amount unpaid in taxes.
A property with unpaid taxes can’t be refinanced or sold by the owner until the outstanding taxes are paid, which may occur during closing. If left unpaid, the home could end up in foreclosure, and the judgment rendered will be on public record filings when someone is reviewing the property owner’s credit score.
What to Do During a Property Tax Collection Lawsuit in Texas
Are you going through a property tax collection lawsuit in Texas? Property owners in Texas are subjected to some of the highest tax rates in the country, and following the economic and financial uncertainty we experienced last year, it’s no surprise that many people across the state are struggling to afford their expensive property taxes.
What Happens to Those Who Cannot Afford Their Property Taxes?
As any property owner knows, property taxes are an annual expense that goes hand in hand with property ownership. But with the recent COVID-19 pandemic, many Texans may find themselves in the position where paying their property tax bill by the end of January is something they cannot afford.
A Loan To Pay Property Taxes Can Provide Fast Funding & Help You Avoid Penalties
Following the Covid-19 pandemic, the local economy was hit exceptionally hard. Consequently, unemployment rates reached record highs in Texas. According to the US Bureau of Labor and Statistics, unemployment in Texas at the end of 2020 was around 7% compared with 3.5% before COVID-19.
Who Faces Difficulties Affording Their Property Taxes?
Covid-19 has created a debilitating global financial landscape, but a greater number of Americans say that they have experienced a negative economic impact than people in other countries.
What Do High Property Taxes Mean For Property Owners In Texas?
Despite the ripple effect that the global pandemic has set into motion and the related financial uncertainty it has created for many, home prices have soared in Texas.
I Lost My Job Due to Covid-19 And Need Help Paying My Property Taxes
At least 3.7 million Americans lost their jobs during the global Covid-19 pandemic, with many wondering how they’ll be able to keep up with bills, living costs, and property taxes.
Will Property Taxes Fall Due to Covid-19?
With Covid-19 throwing the world into tumultuous and uncertain territory, many homeowners and business owners are concerned about property taxes during this time.
When Can You Get a Property Tax Loan?
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Many people consider a property tax loan as a last resort if they are struggling to pay their account, thinking that it is only available under certain circumstances. Here, we’re talking about when you can get a property tax loan in Texas, so you can make an informed decision more easily.
4 Things to Know Before Getting a Property Tax Loan
A property tax loan can help you pay off your taxes when you’re having cash flow problems. Here are some important things you should know before you apply for a loan.
Tax Assessment vs. Appraisal Value and Property Tax Appeal
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Counties, municipalities, and cities impose property taxes on homeowners. The funds from these taxes get used by the local government for various purposes, such as schools and public safety. For homeowners, it’s essential to know the value of your home and how it gets calculated. Most homes have an assessed value and appraised value. Tax assessed values are used only by the property tax authority of your county or municipality to calculate the property tax bill. Tax jurisdictions determine the tax rates and the methods used to assess the properties.
Commercial Property Taxes in Texas and How They Work
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The commercial property taxsystem in Texas can be complicated, and Texas is known for having some of the highest property tax rates in the country. But why are property tax rates in Texas so high, and how are they determined?
One reason property taxes in Texas are so high is that every year, the state requires more tax revenue to support economic and population growth. A bigger economy and a rapidly growing population mean that the state of Texas consistently experiences an increased demand for things like schools, building new roads, healthcare, and other public services and infrastructure. Because of this demand, commercial property owner’s taxes often get more expensive every year, even if the rate doesn’t change, as the generally robust Texas economy increases property market value on which property taxes are based.
The Impact of COVID-19 on Commercial Property Taxes
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Commercial property owners and investors in Texas are in a tough situation when it comes to paying their property taxes, mortgages, and mortgage interest. COVID-19 has drastically changed life for all Texans, and millions of people have been left wondering how they will recover financially from months of lost rent income. Adding to this financial strain felt by so many, commercial property appraisal notices have been sent out across the state, and commercial property owners are still expected to pay their property taxes on time.
Property Taxes and COVID-19
If you pay property tax in Texas appraisal districts, you are understandably wondering what will happen amidst the COVID-19 pandemic. Texas is known for its high property taxes, among the highest in the country, yet millions of people across the state have been unable to earn an income since the lockdown began. For property owners who face penalties and other late fees if they’re unable to pay their 2020 property taxes, this situation is stressful and confusing. Some Texas lawmakers are working to put in place some type of relief. Each taxing unit decides if it will offer the exemption and at what percentage.
When will my property be foreclosed on if I am delinquent, and can I buy it back?
If you owe delinquent property taxes, then you are at risk of foreclosure. Your taxing office will have control of your property tax lien until you can pay, and if you fail to pay, they can sue you, get a judgment against you, and then have your house sold at the public auction to the highest bidder.
As part of the foreclosure process, before Texas starts selling your home, they must give you at least 30 days’ notice of a court hearing about the foreclosure sale. The notice must inform you about the place, date, and time of the trial.
How to Get a Property Tax Loan Fast & How the Process Works
There are thousands of homeowners who are unable to pay the full amount of their property taxes on time, especially due to the high Texas property tax rate. As a result, they are forced to pay hefty amounts in penalties and loan fees. Your first legal collection penalties, typically in July, can amount to 20% (on top of an additional 18% paid in interest and other penalties, for a total of 38% as of the first business day in July); if property owners fail to pay, they become delinquent on their property taxes and receive collection letters that threaten foreclosure and lawsuits. To avoid this process from getting out of control, you can find relief by getting a fast loan to pay your property taxes with American Finance & Investment Co., Inc. (AFIC).
What’s the most important feature of a property tax loan?
A property tax loan is when property tax lenders pay your taxes and in return work out with you an affordable repayment. This allows for residential and commercial property owners in Texas to bypass penalties, interest, and legal fees on their delinquent property taxes. The Tax Collector transfers the tax lien to the property tax lender, providing the lender with security and ensuring they are paid under the payment plan.
What is a Property Tax Deferral?
If a homeowner is a senior citizen who is 65 years of age or older, a disabled veteran, or has a disability, that person will have eligibility according to the Texas Property Tax Code, Section 33.06, which allows for real estate tax payments to be discontinued by offering tax deferral programs. A property tax deferral stops collection efforts on the residence homestead’s property taxes until the property no longer qualifies as the residence homestead.
I Inherited a House or Property With Taxes Owed, What Do I Do?
Leaving a property to a loved one in a Last Will and Testament is a wonderful gift, but it can result in some costs and complications when property taxes are owed on that home. Here’s a quick guide to what to do when you inherit a home and the implications of property tax in Texas from property tax loan specialists.
What Are the Penalties for Non-Payment of Property Taxes?
Penalties for unpaid property taxes in Texas are severe and, therefore, it’s important to pay delinquent property taxes as soon as possible (even if you have to use a loan or property tax solution) to avoid these costs building up or losing ownership of the property. Below is a breakdown of penalties for delinquent property taxes as they are applied by local government. This info is published by one of the leading property tax loan companies in Texas, American Finance & Investment Company, Inc. (AFIC).
Who Should Get a Property Tax Loan?
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The simple answer to this question is “Anyone under 65 who is having trouble paying property tax in Texas”! But, it’s helpful to get a bit more insight into who would benefit from a property tax loan and who you should turn to for professional property tax help.
How Does a Property Tax Loan Affect My Existing Financing?
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Each year, thousands of Texas property owners struggle to pay property taxes and, thus, run the risk of heavy delinquency penalties setting back their financial situation. Here, a property tax loan provides an invaluable service by covering your total property tax bill and preventing further penalties or even the risk of losing your home. But how does a loan to pay property tax bills affect your existing financing?
A Guide to Delinquent Property Tax Penalties in Texas
If you, as a homeowner in Texas, have failed to pay your property tax bill by January 31st, you will be subject to property tax penalties, additional interest, and fees that are collectively known as delinquent property taxes. Here’s a quick guide to how delinquent property taxes in Texas work and the best solution to minimize these penalties.
Struggling to Pay Your Property Tax? Here's What to Do
This year, Texas property taxes are due on Friday, January 31st, 2020. For many homeowners, paying property taxes is not easy, especially after the financial pressure of the holiday season. If this is the position you find yourself in, there are property tax solutions available to help you to pay on time and, thus, to avoid costly penalties, interest, and collection fees. Here’s what to do from the team at American Finance & Investment Company, Inc. (AFIC), property tax loan experts, and one of the most trusted providers of financial services in Texas for over 70 years.
I Can’t Pay My Property Taxes! What Do I Do?
The festive season is over and, as all property owners in Texas know, it’s time for tax season. If you have found yourself in a position where you cannot pay your property taxes, it’s important to know what your options are. Here is some advice and insight from American Finance & Investment Company, Inc. (AFIC), the specialists in property tax loans in Texas.
Can I Get a Property Tax Loan Before Feb 1?
Property taxes in Texas are due on January 31st, 2020 - right after the Christmas holiday season. And, with some of the highest property tax rates in the country, many property owners are struggling to get enough funds together to pay their bills. One question that property tax lenders in Texas often get asked is “Can I get a property tax loan before Feb 1st?”. Here’s some helpful advice.
This Advice Will Help You Lower Your Property Taxes
With some of the highest property taxes in the US, few homeowners in Texas enjoy seeing their property tax bill arrive in the mail. While many people do their best to save for this annual bill, it’s also important to stay aware of the ways in which you can reduce your property taxes so that you’re not paying more than you should. Here is some advice from American Finance & Investment Company, Inc. (AFIC), one of the leading property tax loan companies in Texas.
How to Make the Best Use of Your Property Tax Loan
Even if you have the best intentions, you may find yourself in a position where you are unable to pay your property taxes when the invoices are sent out. After all, it’s easy for your tax bill savings to be used up in the event of an illness or hospital emergency, to pay off vehicle repairs or even to support you in hard times or job loss.
Tips for Choosing a Property Tax Lender
If you’re a Texas residential and commercial property owner who is struggling to pay your Texas property tax bill, you may be considering assistance from local property tax lenders. As with any loan process, it’s essential to choose tax lending a provider that offers ethical, affordable property tax loans and conducts itself in accordance with all applicable federal and state laws. Here are some tips on how to choose the right company for your residential property tax loan, from the American Finance & Investment Company, Inc. (AFIC) team, one of the leading property tax lender in Texas.
How to Apply for a Texas Property Tax Loan
Property taxes in the State of Texas are some of the highest in the USA, largely because there is no income tax. However, this does leave many homeowners in a difficult position when this large lump sum is due to be paid to your local government by the deadline of January 31st.
How To Pay Property Tax in Texas?
Property taxes in Texas are some of the highest in the USA. And, with taxes due on January 31st as the closing date of the tax year – just after the festive holiday season - it’s essential for homeowners to prepare for these costs The amount owed every year will depend on the assessed value of your property. Penalties will start accruing from February 1st or the first business day in February should the 31st fall on a weekend. Here’s a guide for property owners on how to pay property tax from American Finance & Investment Company, Inc., (AFIC) the property tax loan specialists.
Can I Get My Property Back After a Tax Foreclosure Sale?
Foreclosure is a legal process that will begin in the event of property tax delinquency and any interest or penalties associated with your property tax bill. The tax sale process involves several steps, including public auction bidding that ends with the foreclosure sale of the home to the highest bidder. However, this doesn’t mean that you can’t get your home back after property tax foreclosure is complete. Here are some insights into your options from the American Finance & Investment Company, Inc. (AFIC) team, one of the leading property tax loan companies in Texas.
How Does Property Tax Collection Work in Texas?
When it comes to the rates of property taxes by state, Texas nears the top of the list. Texas property taxes are among some of the highest property taxes in the U.S, at an average of 2.18% of the estimated value of your home. If you’re new to the state or you’re a new property owner, you’ll need to get to grips with the basics of this system. Here is a quick guide from AFIC, one of the leading property tax loan companies in Texas:
This is How the Government Uses Your Property Taxes in Texas
Every year, property owners in Texas receive a bill from the government containing their property taxes, which are based on the estimated value of their property. Because our state’s taxes are among some of the highest in the country, it’s common for property owners to ask, “Where do my property taxes go?”. Here is some insight from AFIC, one of the leading property tax loan companies in Texas:
How to Stop Property Tax Foreclosure
All homeowners in the USA have to pay a certain amount of tax to their local government as property tax. Here in Texas, these taxes are amongst the highest in the country, which means that it’s easier to find yourself in a position where you’re unable to pay – especially when you are burdened with additional penalties, for delinquent property taxes in Texas. This can result in your home facing foreclosure, a process whereby your real estate property can be sold through a court-ordered foreclosure auction to cover your tax bill. Here is some insight into tax foreclosure sales and how to avoid foreclosure by paying your property taxes.
Do I Have Personal Liability for Not Paying My Property Taxes?
Property taxes are set by local government and because these funds go into their budget, they have powerful tools to use to collect property taxes and penalize late payments. Here, property tax solutions specialists discuss how non-payment of these taxes can affect you personally, whether it’s regarding your home property taxes or commercial property taxes.
3 Reasons Why Property Taxes in Texas are Higher
How Much Are Property Taxes in Texas?
According to recent research, the property tax rate in Texas is one of the highest in the USA, with property owners paying around one-third more than the national average. Why is property tax in Texas higher? Find out more according to these three factors.
Here's What You Need to Know About Property Tax Loans in Texas
Property taxes often arrive at a time when you can least afford it - and it can easily seem like you could lose your home or business premises as a result. Here is some important information about property tax loans in Texas, including residential and commercial property tax loans, so that you can make an informed decision about your financial interests.
