Splitting payments: a viable option

Published by Research Editor on November 23rd, 2015 - in Taxes

A study by the Office of Consumer Credit Commissioner reported that the most inexpensive way to pay your delinquent property taxes is by creating a payment plan with your city (or taxing unit).

One of those payment plan options is to split next year’s tax bill into two payments. One is due next week, the other isn’t due until the end of June. See our article, Split payments: are they for you? for more information on how to split your property tax payments.

If you simply can’t split payments, another option is to get a property tax loan.

It’s in the mail: tax bills are on the way

Published by Research Editor on October 1st, 2015 - in Taxes
Today is the day your tax assessor will mail your 2015 property tax bill, according to the state’s property tax calendar.

Will you be able to pay your bill?

If, like most people, there’s financial insecurity in your home or business, there’s no need to default on your property taxes and suffer the drastic penalties. Consider a property tax loan to cover your complete property tax obligations, including interest and fees.

3 cheapest ways to pay your property taxes

Published by Research Editor on September 13th, 2015 - in Loans

1. Pay the taxes on time

Obviously, paying property taxes on time will cost the least–you’ll be charged for nothing but your property taxes. However, if that is not an option, there are two others that may work for you.

2. Payment plan with taxing unit

The Office of Consumer Credit Commissioner created a report that examined four ways to pay overdue property taxes. The cheapest way to pay overdue tax bills is by creating a payment plan with your taxing unit.

3. Property tax loan

However, many people do not qualify for a payment plan, which requires:

  • property is your residence
  • you had no installment agreements in the past 2 years

If you are overdue on property taxes for commercial property, rental property, or any other property you don’t live in, a payment plan isn’t an option.

However, the Office of Consumer Credit Commissioner found that the next cheapest option is to get a property tax loan. It costs less than putting the money on a credit card and is far, far cheaper than remaining delinquent.

Final installment due 7/31

Published by Research Editor on July 23rd, 2015 - in Taxes

Next week is the last day to pay the fourth installment on taxes, if you are paying installments as a disabled or senior citizen.

Curious about how to pay taxes in part instead of one lump sum? See our article, How to Pay Property Taxes in Installments.

Making partial payments throughout the year is one of the best ways to avoid penalties and late fees. However, not everyone qualifies. If you don’t qualify, consider a property tax loan instead.

12% interest added to your tax bill

Published by Research Editor on July 1st, 2015 - in Tax Penalties, Taxes

Today is the day. The day that can make or break you. Delinquent taxes incur 12% penalty today.

Twelve percent may not sound like a lot, but a $5,000 tax bill becomes $5,600 today. Six hundred more dollars.

If you are unable to pay your taxes, stop incurring his high interest rate by considering, among your options, a property tax loan.

Split payments: second payment due 6/30

Published by Research Editor on June 20th, 2015 - in Taxes

Was your 2014 property tax bill split into two payments? If so, the second payment is due on or before June 30.

For more information on splitting your property tax payments, see our post, Split Payments: Is it for You?
For more on property tax loans, see Texas Property Tax Loans.

Why do Texans Need Property Tax Loans?

Published by Research Editor on June 13th, 2015 - in Loans

Property tax lending is a growing, maturing industry that makes thousands of property tax loans each year. Why are so many people looking for property tax loans?

Property Tax Burden

As 14th highest state in property taxes, Texas’ property taxes are 19.6% above average. In a report for the Texas Public Policy Foundation, Kathleen Hunker suggests, “Texas has imposed a mounting property tax burden that has outpaced its citizens’ growth in personal wealth.”

High Percent of Income

Based on data in the American Community Survey by the US Census Bureau, Hunker states that Texans paid a whopping 4.8% of their household income to pay their property taxes.

Tax Rates Climb Faster

Not only is 4.8% a large percent of household income, but the property tax rates climb faster than income does. Property tax rates have risen an average of 6.3% since 1991, compared to 2.7% of income increase.

Loan Solution

As Texans struggle to keep up with the increased demands, many turn to property tax loans as a way to avoid hefty costs of defaulting on their taxes.

Disabled and Senior Citizens: Installment deadline

Published by Research Editor on May 23rd, 2015 - in Taxes

Are you paying your property taxes in installments? Your third payment is due next week. Send in 1/4 of your 2015 property tax bill.

Remember, you can always pay extra, but don’t get behind. Failing to pay the full 1/4 of your taxes will earn you interest and a 6% penalty on the unpaid amount.

If you are having difficulty paying your installments, consider a property tax loan among your options.

Last day to protest property taxes: May 31

Published by Research Editor on May 20th, 2015 - in Protest, Taxes

May 31 is the last day to protest your taxes for your non-single-family residence property. If your taxes are too high, you have a right to protest.

To get your protest started, review our protest series, which will take you through the four steps of protest:

  1. Filing notice
  2. Preparing for your hearing
  3. The hearing
  4. Dissatisfied? Next steps.

If your property taxes are fair, but you’re not in a position to pay them, consider a property tax loan.

Property taxes overdue? Read this.

Published by Research Editor on May 13th, 2015 - in Taxes

A lesgislative report* looked at the main options available to taxpayers and compared the financial impact of four ways to deal with your overdue property taxes:

  • Stay delinquent
  • Credit card payments
  • Payment plan with taxing unit
  • Property tax loan

Let’s say Sammy Husson owed $8,000 in property taxes on his home and does not have the cash to pay. What are his options?


Sammy could choose to just not pay the taxes, which would pile up so much in fees and interest that the bill would very quickly double. This is not a good choice for him, for many reasons, least of all the end result would cost him $16,608-17,088.

Credit card

If Sammy happened to have an $8,000 credit card, he could simply charge his taxes to his credit card. Assuming he made enough payments to pay it off within 5 years, the cost of putting his property taxes on the credit card would end up being between $13,339 and $17,653. Better than delinquency.

Payment plan with taxing unit

Well, truth be told, Sammy does not have an $8,000 line of credit. So he turns to his county and asks for installment plans. If he qualifies, this is an excellent option and will cost him, in the end, between $10,012 and $12,652.

Property tax loan

However, Sammy owes the property taxes on a home he inherited from his mother. It’s not the home he lives in, so it doesn’t qualify for installment plans.

So he turns to a property tax lender, which offers him a flexible payment solution over the next five years. At the end of it, the OCCC estimates he will have paid between $13,156 and $17,511.



*prepared by the Office of Consumer Credit Commisioner for the Finance Commission of Texas. See page 8.

© 2013 FYP, LLC.