For decades, high property taxes have been a complaint among Texas homeowners, yet it remains a relevant, hot-button issue. The reason for the ongoing property tax frustrations is that the problem not only never goes away - it seems to get worse. Property tax hikes anger city residents throughout the state as lawmakers promise relief but deliver very little. So, what is the reason for this seemingly interminable state of affairs, and what can be done about it?
One of the reasons why it is so difficult to achieve any change in the situation is that nobody is really to blame for it. Rather, it is a result of a variety of factors that co-exist in the Texan economy and political system. Texans pay higher property taxes than residents of other states, but we also pay no state income tax. The absence of income tax means that authorities in the state need to look elsewhere for revenue. A tax on property ownership has always been the ideal solution from that point of view. If appraisal districts and tax entities go ahead and drop property taxes, as many homeowners are demanding, they will then need to find the lost revenue elsewhere. What would the solution be then? The introduction of income tax, perhaps? Texans would never accept that. These local authorities are simply doing what they must to ensure the various public treasuries are filled.
Surely state legislators can offer relief, though? Senators, representatives, and even governors have tried, but there is really little they can do. This is because property taxes are levied and collected at the local level. They are the domain of municipal governments, and state authorities have no jurisdiction to interfere. Property taxes come up in debates in the house and senate all the time, but the relief that may result from any legislation that actually gets passed can only offer limited relief - such as exemptions for the aged or a temporary deferral for first-time homeowners. The taxes themselves remain - and usually increase too.
Another contributor to rising property taxes is the recent housing boom. The state government has managed to enforce a cap on the rates of property taxes. However, if property valuations increase, then homeowners will still end up paying more. This means that an increase in the value of your property is a double-edged sword: you have a more valuable asset, but you are also paying more in taxes. In the end, these colliding forces - property values and the authorities’ dependence on property taxes, create a situation to which there is no easy solution. It appears as if property taxes - frustrating as they are - will be a reality for Texan homeowners for the foreseeable future.
Since property taxes are so burdensome for homeowners, many people are often tempted to pay them late - or simply forget to pay them. When this happens, interest and penalties quickly add up, making the outstanding balances almost impossible to pay. In these situations, a property tax loan can make the burden easier to bear. American Finance & Investment Co., Inc. (AFIC) will pay your debt with your local tax authority and allow you to repay the loan on very reasonable terms, with no credit checks and no money down. Contact AFIC to find out how we can help to alleviate your property tax frustrations.
Founded in 1946, American Finance & Investment Co., Inc. (AFIC) started by serving the financial needs of El Paso and has since grown to become one of the top property tax lenders in the state of Texas, with a complaint-free track record for over 65 years, with the Better Business Bureau. We offer our clients an affordable, hassle-free way to ensure that your account with the local government tax office is paid in full and will work out a manageable repayment plan for you. AFIC can provide you with an instant quote by completing the form on our homepage. For qualifying properties, we can help you pay off your delinquent taxes and offer you the following benefits:
We pride ourselves on finding solutions to suit the unique needs of our clients. If you would like to discuss our property tax loans, please contact our experienced team at AFIC today.
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YOUR TAX OFFICE MAY OFFER DELINQUENT TAX INSTALLMENT PLANS THAT MAY BE LESS COSTLY TO YOU. YOU CAN REQUEST INFORMATION ABOUT THE AVAILABILITY OF THESE PLANS FROM THE TAX OFFICE.
If you are over 64 or disabled, don’t get a property tax loan, contact your tax office about a deferral.
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