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Property Tax Funding Blog

Get Property Tax Relief with a Property Tax Loan

Posted by Joe Thompson on Tue, Dec 31, 2013 @ 05:12 AM

property tax reliefGet Property Tax Relief with a Property Tax Loan

Property taxes are an expense that can often break the budget of many individuals.  Unless you escrow, property taxes are due in one lump annual sum on January 31st.  Property taxes are calculated based on a percentage of the value of the property, with the collection thereof funding many of the services for the city and county where you reside.  Additionally municipal services districts, water districts, hospitals and public schools count on this funding source.  Failing to pay these taxes in a timely manner can result in significant late fees and penalties.  Many property owners don’t budget well for this annual expense and often begin their search for property tax relief when the tax bill arrives.

Fees and penalties in Texas

When property owners do not pay their property taxes on time, penalty charges and interest charges are added to the outstanding tax balance.  The penalties are quite severe in the state of Texas, and continue to stack up every month they are past due.  Believe it or not, your tax bill can increase by up to 48% in the 1st year alone if left unpaid.  Failure to pay your taxes can eventually lead to a tax foreclosure sale of your property.  Unfortunately there is little in the way of property tax relief offered by the tax assessor.  Fees and penalties are set by state law and rarely waived.

Options for Texas property owners with overdue property taxes

Fortunately, Texas property owners have options to avoid the massive late fees and penalties associated with overdue property taxes.  Of course paying them off entirely will solve your problem, however most property owners in this situation do not have access to the required cash.  Tax assessors do offer some level of property tax relief with payment plans; however, most plans offered by the tax assessor come with strict requirements and short repayment terms. 

One of the more popular solutions involves a property tax loan.  These loans can provide Texas property owners with immediate property tax relief.  By taking out a property tax loan, the tax assessor will be paid off in full and further penalties will not accrue.  The tax lender will pay the tax assessor directly then set up an installment loan with the property owner to repay the taxes.  What’s great about a property tax loan is the repayment term can be much longer than a tax assessor plan, thus providing the property owner a lower monthly payment.  Additionally, tax lender interest rates can be much lower than the penalty and interest charged by the tax assessor.  Normally the whole process only takes a few days, so relief from the stress of past due property taxes can be achieved quickly. 

To learn more about property tax relief loans from Property Tax Funding, contact one of our licensed loan officers at 877-776-7391 or apply online.

Topics: property tax relief, property tax relief texas, property tax relief in texas, texas property tax relief, property tax relief loans

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