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Property Tax Funding Blog

Property Tax Loans Provide Help for Back Taxes

Posted on Wed, Jan 15, 2014 @ 05:01 AM

Property Tax Loans Provide Help for Back Taxes

Texas is tough on property owners who don't pay their taxes, because local governments here rely on that revenue to pay for many of the services they provide. Assessed property taxes are due in one lump sum payment every January 31st, unless an owner has escrowed their taxes with their mortgage payments throughout the previous year. When a property owner doesn't have the cash they need to get their taxes paid in full by the due date, their local taxing authority begins adding on penalties, interest and fees. In twelve months, these incredibly high charges can equal 48 percent of the original tax balance.

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