After obtaining your dream home in Texas and enjoying the peaceful yet exciting community experience that it offers, there are annual matters that you need to take care of – paying for your property taxes.
There are several important dates to look for throughout the tax year. Let us understand their importance.
The property tax collection period begins for the current year. County taxing entities will start mailing property tax bills on October 1. You have between October 1st thru January 31st to pay your bill in full or make arrangements.
If you decided to do the half payment plan, November 30th is the final day to make the first half payment.
State law requires your County Appraisal District (CAD) to determine the market value of your home on January 1st.
A tax lien automatically attaches to your property to secure tax payments, late penalties, and interest.
This is the last day to pay Texas property taxes without incurring financial penalties and interest charges.
The first payment on quarter payment plans for Over-65 and disability homestead accounts is due by January 31st.
Penalty and interest charges begin to accumulate on unpaid taxes for the previous year. The penalty rate begins at 6% and increases each month that the payment remains unpaid to a maximum rate of 12%. Interest also begins to accrue on this date at the rate of 1% per month until the account is paid in full.
The second payment on quarter payment plans for Over-65 and disability homestead accounts is due by March 31.
This is the last day to file an exemption application with your CAD.
If you do not agree with what the CAD assessed your property at, May 15th is the last day to file a protest with the County Appraisal District for the current year.
The third payment on quarter payment plans for Over-65 and disability homestead accounts is due by May 31st.
This is the last day to make the second payment on the half payment plans.
If you are still delinquent on your taxes, a collection penalty up to 20% of the total unpaid balance is added to the current property tax balance. The penalty charge will stop but the interest charge will continue to accrue at 1% per month until the bill is paid in full.
The County Tax Office can now start turning over delinquent accounts to county collection attorneys.
The Chief Appraiser certifies the appraisal roll to the taxing units.
This is the last day to pay the final payment on quarter payment plans for Over-65 and disability homestead accounts.
At Ovation Lending we have guided every type of property owner in every type of situation to the financial recovery that they needed. Our knowledgeable Licensed Loan Officers will help you understand what the best payment option is. Give us a call today 877-419-7392 or to apply click here.