Worried about property taxes? Learn about your tax payment options.
Are you ready and able to pay your residential or commercial property taxes by the January 31st deadline? If not, here are some options available to you:
Request a Tax Deferral
If you or your spouse are 65 years old or over and your property is your homestead, you can get a property tax deferral via your county’s appraisal district office. A deferral means you no longer have to pay any taxes while you reside full-time in your homestead, however your tax bill continues to be due and your total amount due keeps rising every year. The interest rate applied to your unpaid taxes is only 5% a year.
Pros: Delay your payments for years, penalty free, at only a 5% interest rate.
Cons: Taxes and interest keep growing, and you or your heirs will be liable to pay them.
Get help with property tax payment options.
Pay with a credit card
Paying with a credit card is better than doing nothing, because doing nothing can wind up costing you as much as 47% more in most of Texas. Be sure your credit card interest rate isn’t higher than your other options, and make sure you can afford the resulting minimum monthly credit card payment. Finally, consider your credit card’s limit, if you reach it, you won’t have credit available for unseen expenses or an emergency.
Pros: Avoid the 47% extra in charges by the county. No tax lien on your homestead.
Cons: High interest rates, and potentially maxing out your card.
Speak with a licensed representative about your taxes.
Request a payment plan with the county or taxing entity
Many counties offer payment plans for homestead owners or victims of natural disasters. These plans range from a 12-month to a 36-month payback. While on a payment plan, the county will not sue you or foreclose on you. If you miss a payment, you are kicked off the plan and then all applicable penalties and interest are then applied to the outstanding balance. You cannot get another plan for the next year’s taxes if you still owe on your current plan.
Pros: Avoid the big penalties, and spread out your payments.
Cons: Short repayment period means higher payment amounts than other options. Plans not available to everyone, and differ by county.
Interested in your tax payment options?
Apply for a Texas property tax loan
A property tax lender is licensed by the State of Texas and will quickly pay your full tax bill, and then you pay them back over time. Generally, they do not perform credit checks and require no money down. *Note that if your property has a mortgage, your property tax lender cannot start your loan until after the January 31st deadline passes, but after that initial late county penalty, you will not incur any other county penalties. A property tax loan generally provides a much lower monthly payment than the county’s payment plan.
Pros: Have your full tax bill quickly paid. Stop the county’s penalties, fees, and interest. Get a lower monthly payment than the county’s plan.
Cons: A tax deferral will save you more money. You may pay a higher interest rate than the county’s plan.
Call for our best rates or fill out this form and a state licensed loan officer will contact you.
You may be asking, “But what is my best option?”
That entirely depends on your situation. Your best option is to pay your tax bill by January 31st with money you have saved over the past year. But we know that isn’t always a viable option as life has a way of throwing curve balls that make a large payment unattainable sometimes.
At Hunter-Kelsey of Texas we’ve helped over 10,000 Texans pay their property tax bill, and get a payment plan they could afford. Our loans can be paid off at any time with no penalties, and we are known for working with our customers to get them through their current financial hardship. With our low payment, you can save money for next year’s taxes, thus avoiding the highest penalties, interest, and fees for delinquent taxes in the nation.
Please check out our Better Business Bureau and Google ratings, and let us take away the worries that come with delinquent taxes.
Give us a call today at 866-776-7829 or fill out the form below and we can help you determine your best payment options.
About us
Hunter-Kelsey of Texas has helped over 10,000 Texans save money on their overdue property tax loans!
We value a long term relationship and look forward to helping our clients year after year with their property tax lending needs. Hunter-Kelsey will never sell your loan and we take pride in being the ones you will always call when you have questions or need support.
Our property tax loans do not require you to have good credit and or cash to close the loan. And, we make it easy to sign the loan by sending a notary to you. That’s why we’ve had our A+ rating with the Better Business Bureau for almost 15 years!
Your day in court
If you haven’t paid your taxes by your court date, a judgment will be found against you for the amount of your inflated tax bill. The court will then authorize the taxing entity to foreclose on the property. At this point, there is no negotiating with the court, no matter what your reasons for not paying. The county then officially posts your property for foreclosure at least 21 days in advance and then auctions off the property on the first Tuesday of the month, following the 21 day notice.
