Thursday, November 11, 2010

Texas Property Taxes...What do I do?

When are taxes due?Tax bills for each year are mailed in October.  Taxes are due upon receipt of a statement. In order to be timely, payment of taxes must be paid in person or postmarked on or before the due date. If you mail payment for your taxes, the envelope must be postmarked not later than January 31st .




What if I don't receive a tax bill?

If you do not receive a bill, please contact our office or access our for a copy of your bill.
Failure to receive a tax bill does not affect the validity of the tax, penalty, or interest, the due date, the existence of a tax lien, or any procedure instituted to collect a tax (sec.31.01 (g), Texas Property Tax Code).




I received a tax statement but my taxes are paid by my mortgage company. What should I do?Original tax statements are sent to all taxpayers. A duplicate statement will be mailed to your mortgage company if requested by them. If your mortgage company did not request the statement, write your loan number on the statement and send it immediately to the mortgage company.



What happens if I can not pay my taxes by the due date?




If taxes are not paid by January 31st, penalties and interest will accrue are follows:
IF TAX PAID
IN :
ADDIF TAX PAID IN :ADD
PENALTYINTERESTTOTALPENALTYINTERESTTOTAL
FEBRUARY6%+1%=7%MAY9%+4%=13%
MARCH7%+2%=9%JUNE10%+5%=15%
APRIL8%+3%=11%JULY12%+6%=18%







Penalty reaches a 12% maximum and interest will increase 1% each month thereafter.

Personal property and mobile home accounts not paid in full by March 31st of the year in which they become delinquent will be referred to the delinquent tax attorney for enforced collection, and will incur an additional penalty equal to 15% - 20% of the total taxes, penalties, and interest due.

All real property accounts not paid in full by June 30th of the year in which they become delinquent will be referred to the delinquent tax attorney for enforced collection, and will incur an additional penalty equal to 15% - 20% of the total taxes, penalties, and interest due.

Who is responsible for paying taxes?State law automatically places a tax lien on property on January 1 of each year to ensure that taxes are paid. The person who owns or acquires a property on or after January 1 of the tax year is personally liable for the tax. A person is not relieved of the obligation because he no longer owns the property. (Sec. 32.07, Texas Property Tax Code).

Have Questions? Call The Texas Property Tax Lending Experts, Tax Loans USA at 800.719.4096 or go to http://www.taxloansusa.com/

1 comment:

  1. Great post with Great stuff.That sounds pretty cool. Really helpful thanks for the Article, Great job, hope we can expect more articles. All the Best.


    Thanks
    Buy Property USA

    ReplyDelete