Monday, December 20, 2010

Hurry up and get those taxes taken care of....penalty rounds are right around the corner

When we don't pay our property taxes in a timely fashion the county uses this as another means of revenue production. Here is the tax penalty chart for Denton County , Texas:

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 :
ADD
IF TAX PAID IN :
ADD

PENALTY

INTEREST

TOTAL

PENALTY

INTEREST

TOTAL
FEBRUARY
6%
+
1%
=
7%
MAY
9%
+
4%
=
13%
MARCH
7%
+
2%
=
9%
JUNE
10%
+
5%
=
15%
APRIL
8%
+
3%
=
11%
JULY
12%
+
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.

If you think you had problems paying them before, wait until they penalize you, compound interest for a few months and than do it again. Eventually the penalties could equal the original tax due thereby doubling your taxes due in a very short period of time. If you don't have the money now, are you going to have twice the money in 6 months to a year. If so, great....if not call us! 

Don't get caught unprepared. Let Tax Loans USA  get those property taxes paid ON TIME!! There is no out of pocket expense, and 90% of applicants are approved. Keep as much of your money as you can. These are very tough times, even harder if you are struggling alone. Let us help you, we can get through it together. Call us at 800-719-4096, and let us help.

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