Archive for May, 2012

Seniors: You Can Pay Taxes in Installments

Published by Research Editor on May 5th, 2012 - in Taxes

Installments for Seniors

Not everyone can pay a year’s worth of property taxes all at once. For citizens 65 or older, an alternative to a property tax loan is the option to pay property taxes in installments.

Paying in installments splits your property tax bill into four smaller bills, due throughout the year.

To qualify, you must:

There is no special form to fill out, no extra paperwork. If you’ve already applied for the $10,000 homestead exemption, you don’t need to reapply. Simply send in ¼ of the taxes due with a note that you are paying in installments.

The four installments are due before:

  1. February 1
  2. April 1
  3. June 1
  4. August 1

Each installment should be ¼ of the taxes you owe.

Keep up with the installment payments. If you miss an installment, there is a 12% penalty, plus 1% per delinquent month added to the installment amount.

Don’t be fooled by this fake email!

Published by Research Editor on May 4th, 2012 - in Taxes

Don't be fooled by this bogus email


A bogus email has been circulating among Texas voters regarding the upcoming May 12 elections. The email claims the elections will include a proposition for a statewide constitutional amendment involving property tax exemptions.

However, the May 12 elections are local elections and do not involve any such constitutional amendment.

The Secretary of State advises voters to disregard the email. Don’t forward it: doing so will spread false information.

If you would like accurate information about the May 12 elections, contact your local election officials (your county’s website is a great place to start) or go to

Property Tax Loan Disclosure

Published by Research Editor on May 4th, 2012 - in Loans, Taxes

Superior Loan Disclosure


This important loan disclosure document is similar to one you should receive if you are entering into a property tax loan. It covers several vital reminders:

Superior Loan

A property tax loan is a superior loan. If you don’t pay your property tax loan back, your house can be foreclosed on, even if you’re still making mortgage payments to someone else.

Alternatives to Property Tax Loans

The document reminds you that you have options: alternatives to a loan. For example, if you’re 65 or older, you can seek tax deferral. Or you always can look at other lending or borrowing options. Remember, always make the best decision for you and your situation.

Office of Consumer Credit Commissioner

Further information about property tax lenders is available from the Office of Consumer Credit Commissioner at or (800) 538-1579.

New Homestead Residence Exemption Application

Published by Research Editor on May 4th, 2012 - in Tax loopholes and exceptions, Taxes

Revised Homestead Exemption


The Texas Comptroller of Public Accounts has revised the Application for Homestead Residence Exemption form.

While the changes to the form are relatively minor, be sure to use the updated form when applying for a homestead residence exemption.

In addition to now providing a space for a spouse’s birthday, the form also now explains the documentation you’ll need to provide if you’re applying for a disabled veteran residence homestead exemption.

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