Struggling to Pay Your Property Tax? Here's What to Do
This year, Texas property taxes are due on Friday, January 31st, 2020. For many homeowners, paying property taxes is not easy, especially after the financial pressure of the holiday season. If this is the position you find yourself in, there are property tax solutions available to help you pay on time and, thus, to avoid costly penalties, interest, and collection fees. Here’s what to do from the team at American Finance & Investment Company, Inc. (AFIC), property tax loan experts, and one of the most trusted providers of financial services in Texas for over 70 years.
Start the Process for a Property Tax Loan Today
It’s important not to wait until after the property tax payment deadline to apply for property tax loans in Texas. This is because the first wave of penalties for non-payment will be applied on the first business day of February, which is Monday, February 3rd.
This includes a penalty amounting to 6% of your original property tax bill, 1% interest per month for each additional month it goes unpaid until June 30th, and an additional 2% penalty from July 1st. Some tax collection fees can also be as high as 20% of your total property tax bill at the time of collection. If delinquent taxes continue to go unpaid, property owners may even face legal action; knowing what to do during a property tax collection lawsuit in Texas can make a critical difference in protecting your home.
For more detailed information on how the Texas Homeowner Assistance Fund can help you with property tax payments, check out our guide on the Texas Homeowner Assistance Fund.
Further, in addition to all of the above, you’ll owe 1% per month in interest (or 12% per year) for as long as your bill is unpaid. Adding that all up, you will have incurred 38% of your tax bill in penalties, interest, and collection fees in just 5 months of leaving your bill unpaid.
The only way to minimize your costs and avoid paying more is to ensure your property tax loan is applied for and approved before the original payment deadline. Unfortunately for those of you with a mortgage, property tax loans can’t be funded until you are delinquent, but all of the paperwork can be completed and ready to go in January, for funding at the beginning of February.
3 Easy Steps to Settle Your Texas Property Tax Bill
Here’s what you need to do if you want to get a property tax loan from AFIC, one of the most reputable property tax loan companies in Texas:
Complete an Online Application: Visit our website and complete the form “My Loan Quote”. You will receive an instant loan estimate. We only ask for the following information to complete this estimate:
-
The name of the county in which your property is located
-
Your email address and phone number
-
Your first and last name
Complete the Document Process: Our team will contact you to discuss the terms of the loan with you directly. They will also be able to answer any questions you may have. For your convenience, we will bring the necessary documentation to you in order to complete the loan process.
We Settle Your Property Tax Bill: Your account will then be settled on your behalf using the funds from the property tax loan. No fuss, no hassle, and no additional work for you.
Why Choose AFIC for Property Tax Solutions?
AFIC was founded to support Texas property owners with ethical, affordable property tax solutions. Today, we serve both homeowners and business owners with personalized options for delinquent property tax assistance in Texas.
Our commitment goes beyond loan processing. We also provide guidance and educational resources to help Texans understand their options and move forward financially.
With over 70 years of experience and an A+ rating from the Better Business Bureau, we proudly assist clients in every Texas county — from Dallas, Harris, and Fort Bend to El Paso.
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:
- Quick and completely online process
- No money down
- No credit check
- Free 30-day rate match
- Match competitors and beat their rate by 1%
- Avoid high penalties and foreclosure
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.
