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.
Important Property Tax Dates
Many important dates relate to when property taxes are due and when penalties and interest take effect throughout the year. The current year’s tax request and initial payment are due by the due date on the bill(January 31st in most cases). Texas does allow split payments for property taxes, but this is typically an optional arrangement that needs to be agreed upon in advance with the tax office.
- October 1st: Tax statements are mailed out to property owners, unless an election is required for voter approved tax rates.
- October 31st: The deadline for paying property taxes in most cases.
- February 1st: Unpaid taxes become delinquent, and penalties and interest begin to accrue.
- July 1st: Additional penalties are imposed to cover legal costs for collecting unpaid taxes.
- The 1st of each month: An additional 1% interest is charged on your unpaid taxes. After July 1, an additional .2% of additional legal costs generally is applied as well. Both interest and legal continue each month that the taxes remain unpaid. During the first year of unpaid taxes, additional penalties are also applied monthly, up until July 1st.
It is essential to check with your county tax collector and mark the correct dates in your calendar. If a deadline falls on a non-business day, the date is extended to the next regular business day, if the last day of the month falls on a Saturday, Sunday, or effective date of the prior month.
Property Tax Payment Via Your Mortgage
A common property tax payment method used by many with mortgages is to pay through an escrow account that their lender maintains. Each month, a portion of your mortgage payment will go into the escrow account, and your lender will use the accumulated money to pay your property tax when it is due. As this relies on estimating what is owed, it is possible that what you have contributed will not cover all of your property tax according to the approval tax rate, requiring you to pay the difference when the tax is due.
Property Tax Payment Plans
In many cases, you can apply to pay your property taxes using various payment plans. These can include half-payment plans, with due dates typically on June 30th and November 30th, and quarter-payment plans, with due dates generally on January 31st, March 31st, June 30th, and September 30th. These plans split your taxes into two or four equal payments throughout the year. Additionally, there is often a convenience fee of around 2.30% for credit and debit card payments.
Some county tax offices or appraisal districts may offer other installment options, such as a 10-month payment plan or a pre-payment plan similar to an escrow account. Special plans may be available for those over 65, individuals with disability exemptions, or disabled veterans. Tax collectors may also allow payment of delinquent taxes in installments for up to 36 months, but this option is generally available only for residence homesteads, comes with a bureaucratic process, and the potential for retroactive penalties for missed payments.
What to Do if You Miss the Deadlines
As you can see, from February 1st onward, your property tax account will accrue monthly penalties and interest if it is unpaid. Although it may not seem like much at first, the bill can quickly add up, leaving you with an amount that may be very hard, even impossible, to pay. The best way to avoid this is to keep up-to-date and pay by the January 31st deadline. However, if you should miss the deadline or find yourself unable to settle the bill, don’t panic. There are ways to solve the problem that won’t result in legal action, losing your home, or going into unmanageable debt.
As mentioned, a payment arrangement with your county tax office may be an option. This might enable the debt to be broken down into more feasible monthly payments.The payment schedules can be quite inflexible making the county an ineffective resource for most.
A more manageable alternative is to apply for a property tax loan from a reputable lender like American Finance & Investment Co., Inc. (AFIC).
Property Tax Loans
Property tax loans are a financial product that you can use to avoid costly county fees and delinquency. Property tax loans allow you to convert your property tax bill into an affordable monthly payment. Property tax loans will provide you with:
- Affordable monthly payment plans
- Flexible repayment terms
- Avoid foreclosure
- Stops the accumulation of penalties and fees
- Relief and peace of mind
The application process is quick and easy and can be completed online. Once approved, we will settle your debt with your county tax office quickly, and the lien on your property will then be transferred to us until you have repaid the loan. The benefit of working with us is that we specialize in creating payment plans tailored to each client. Your repayment schedule and monthly installments can be worked out to suit your budget, and you can let go of the worry of your tax bill spiraling out of control.
AFIC offers our clients an affordable, hassle-free way to 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 benefits:
- 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 is an expert at assisting Texas homeowners in settling their property tax bills and has been serving the financial needs of Texans for decades. Founded in El Paso in 1946, the business’s original intention was to serve the needs of the residents of that city and its surrounding areas. Since then, we have expanded to serve property owners across the state and become one of Texas’s top dedicated property tax lenders. AFIC is a family-run business that understands the needs of homeowners, having been run by three generations of the Eisenberg family. Equaling over 125 years of combined experience and have dedicated our careers to the growth and success of the company through the provision of excellent financial services to the people of Texas. We have the highest possible Better Business Bureau (BBB) rating, and the leaders of our company have served in many advisory and board capacities. We also have some of the strongest financial backing in the industry, making us safe and viable for years to come.
We pride ourselves on finding solutions to suit the unique needs of our clients. If you would like to discuss our property tax loans or establish the Texas property tax due date before contacting an attorney, please contact our experienced team at AFIC today.
