Property Tax Funding offers Amarillo property tax loans to help homeowners avoid paying the onerous penalties that can come with paying taxes late. Under Texas law, interest and penalties can add up to 48 percent to a property tax bill in just one year. Even after the cost of the loan, a property owner that can't pay his property taxes on time can save up to 60 percent by using a property tax loan instead of incurring the late fees and penalties.
Amarillo Property Tax Loans Made Simple
Property Tax Funding takes advantage of Texas' Tax Lien Transfer law to get taxpayers out of paying the huge interest and penalties charged by the tax assessors. Property owners that take out Amarillo property tax loans take the tax collector out of the process and, instead, deal directly with the property tax lender. The tax lender takes care of paying the property taxes, which stops further penalties, interest, and prevents a tax suit from being filed against the property owner.
In exchange for paying the taxes for the property owner, the tax assessor transfers their lien to the tax lender. The lender then sets up a repayment schedule with the property owner, normally ranging from as short as 1 year to as long as 10 years. The tax loan can be completed in just a few days and past credit problems will not prevent approval. Once the loan is fully paid, the tax lender releases the transferred tax lien.
City of Amarillo Official Website
Welcome to Amarillo
Located in the Panhandle, Amarillo and its surrounding suburbs has almost a quarter million people that call it home. Still known for ranching, Amarillo also has a major role in supporting America's military as well as being a major center for beef packing and a regional center for the oil industry. Property and school taxes vary from 1.74 to 2.32 percent depending on a given property's location.