You live here.
You love it here.
And because you’ve established roots in the Lone Star State, you have to help support the community in which you live, as well as the state as a whole. That’s where Texas property taxes come into play. As you know, individual income taxes don’t exist around here. So to cover operational costs for school systems, emergency services, local maintenance and government, the State depends on our property taxes.
Whether we like it or not, that tax bill shows up at the same time every year. And while some people are good about setting money aside in advance to cover them, not all of us are so lucky. Unexpected repairs come up. Family members sometimes need help. And let’s not even talk about medical bills.
It’s no secret that things don’t always go as planned. So when unforeseen events pop up around property tax bill time, don’t allow yourself to become overwhelmed. The good news is there are a few options out there if you’re in need of a property tax assistance program. Keep reading to see if one of these options might be right for you.
Texas Property Tax Assistance Options to Consider
While there aren’t a great deal of property tax assistance programs out there, the solutions that do exist can help take the weight off of your shoulders. Here are a few courses of action to consider when you’re looking for a little relief from your property tax notice.
Option One: See If You Qualify for a Payment Plan
If you can’t cover the amount of your tax bill in full, some areas might offer payment plans through their property tax offices. As provisioned by TexasTax Code Section 31.031, certain persons may pay homestead taxes in four equal installments without incurring penalty and interest if they are disabled, 65 or older, disabled veterans or the unmarried surviving spouses of disabled veterans, or who qualify for certain exemptions.
If you’re a partially disabled veteran with a home that was donated by a charitable cause or the unmarried surviving spouse of a partially disabled veteran, you, too, may qualify for an exemption. If you fall within these guidelines, you are allowed to make the first payment and request an installment agreement before the delinquency date.
The payment schedule is as follows:
If you already know that you won’t be able to pay your tax bill in full by Feb. 1, the first installment must still be paid before that date. You’ll also have to submit a notice to the taxing unit that you intend to pay the remaining balance in three equal installments. After that, the second installment must be paid before April 1. The third installment is due before June 1, and the fourth and final installment is due before Aug. 1.
If you make a payment plan arrangement after Feb. 1, the second installment has to be paid before the first day of the second month after the delinquency date. The third installment must be paid before the fourth month after the delinquency date. The final installment has to be taken care of before the sixth month after the delinquency date.
What Happens if You Fail to Make a Payment?
If you don’t make your installment payments before the due date, your payment is considered delinquent and a 6% penalty fee along with a 1% interest fee is applied every month until the amount you owe is paid in full.
Option Two: See if Your Local Tax Authority Offers
Property Tax Assistance
If you’re not eligible for a payment plan or exemption, it may still be worth contacting your local taxing authority for assistance. In many cases, they’ll offer a more traditional payment plan for property owners who are dealing with financial hardship. These payment plans typically cost 12% per year and require a down payment of some kind (usually 30%). If you choose to go this route, be sure to stay on top of the application process and follow every rule. A missed payment under this scenario usually triggers a default and will put the property at risk of foreclosure sale again.
Option Three: Work With Tax Ease
When plan A or B won’t work, it’s good to know that there’s always plan T.E. You could work with anyone to get a loan, but you’re better off working with a company that has a strong reputation and an extensive history of providing comprehensive Texas property tax assistance since 2003. Tax Ease’s residential and commercial property tax loans have helped tens of thousands across the state of Texas keep their homes and businesses. Tax Ease can assist you with new tax debt or provide you with back property taxes help so you can avoid foreclosure.
Contact Tax Ease For More Information on Property Tax Assistance
If you have questions about the application process or how we work in general, please don’t hesitate to contact us. Our loan officers are more than happy to assist you.