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.
Property Taxes Are Charged in Arrears in Texas
Taxes are due every year in arrears. The tax year runs from January 1st to December 31st, and the taxes assessed for a given year are then charged to homeowners in October of the tax year. Here are the key points to remember:
- Most counties in Texas issue yearly tax statements between October and November of the current tax year.
- Taxes are not “due” until the date of the yearly tax statement being issued as “final.”
- After the county tax office has issued the property taxes, they are “due and payable” by Dec. 31 of that tax year.
- Penalties and interest are assessed if payment is not received by Jan. 31 of the following year.
Property Tax Loans Can Help You Navigate This Cycle
Whether in arrears or in advance, the point is that you need to pay every year by January 31st or face penalties and interest that can soon become unmanageable. If you ever do reach that point, the best thing to do is to contact a property tax lender. Once your loan is approved, you don’t have to worry about the specifics of the previous tax year. The tax lien is transferred to the lender, your account is settled immediately with your local authorities, and you can make a repayment arrangement with the lender that suits your budget and schedule. If you find that the intricacies of the property tax cycle are getting you down, let a property tax lender like AFIC help.
How Do Texas Property Tax Loans Work?
If you are behind on the previous year’s taxes, and the next tax bill shows up in the mail, it makes little difference whether the taxes are being levied in arrears or advanced. All that matters then is that you will owe two years’ worth of taxes, plus interest and penalties. Don’t let things get to this stage. Even if you think you are about to fall behind, the best thing to do is apply for a Texas property tax loan.
AFIC makes the process exceptionally easy. All you have to do is fill out our online tax loan quote request. The entire process is online, and you can get your quote in just a minute. Once your application is approved, we will pay the outstanding amount to the relevant tax authority immediately , alleviating the stress arising from the terrible fear that you may find yourself in unmanageable debt and even lose your house.
At AFIC, we provide flexible repayment terms based on your budget and schedule. We will not insist on specific monthly repayments. The installments must be manageable so we will work with you to develop a reasonable repayment plan. Whether you have bad credit or are concerned about collection fees, our loan process is hassle-free and designed to help you get your property taxes paid today.
The Benefits of Property Tax Loans
By choosing a tax loan to help you keep ahead of your Texas property taxes, you can enjoy the following benefits:
- Avoid delinquency and penalties: Settle your tax debt immediately and eliminate the risks arising from ballooning debt.
- Flexible repayment options: As mentioned, you can settle on a payment options that suits you and your budget.
- Keep your property: With a property tax loan from AFIC, you can protect your property from foreclosure.
- Quick and convenient financial relief: The process is exceptionally fast and convenient. You don’t have to go through piles of paperwork, you won’t have to wait long for approval, and you don’t have to worry about credit checks and red tape.
- Get help with your financial planning: A property tax loan can empower you to take control of your financial planning. It gives you the flexibility to manage your cash flow more effectively and ensures that you can allocate resources to other expenses or investments, while still meeting your tax obligations.
Why Choose AFIC For Your Texas Property Tax Loan?
American Finance & Investment Co., Inc. (AFIC) is an OCCC-registered property tax lender. We offer our clients an affordable, hassle-free way to manage their Texas property taxes. We can ensure that your account with the local government tax office is paid in full and will work out a manageable repayment plan for you. AFIC can provide you with an instant quote by completing the form on our homepage. For qualifying properties, we can help you pay off your delinquent taxes and offer you the following:
- Quick and completely online process
- No money down
- No credit check
- Free 30-day rate match
- Match competitors and beat their rate by 1%
- Avoid high penalties and foreclosure
AFIC has a long, proud history of serving Texas homeowners. The company was founded in 1946, and has been going strong ever since. It has helped thousands of individuals and companies with their financing needs, growing into a one-time international institution with multiple active subsidiaries.
AFIC has been run by three generations of the same family. Chairman of the Board Jack Eisenberg, until his passing in 2021, and continues with son Cliff Eisenberg, and grandson Ernest Eisenberg. The Eisenbergs have over 100 years of combined experience both at AFIC and in the financial industry, dedicating their careers to the growth and success of AFIC. With AFIC, you get a lender with a flawless Better Business Bureau track record, a complete understanding of Texan property taxes, and empathy for the state’s homeowners and the challenges they face.
We pride ourselves on finding solutions to suit the unique needs of our clients. If you would like to discuss our property tax loans and any additional advice on the requirements of your local tax authorities and the details of your property taxes, please contact our experienced team at AFIC today.
