Archive for October, 2012

Who is Susan Combs?

Published by Tech Team on October 17th, 2012 - in Taxes

Susan Combs is the Texas Comptroller of Public Accounts. Basically, Combs oversees the financials of the state of Texas. According to the Comptroller website, “Comptroller Susan Combs serves as the state’s treasurer, check writer, tax collector and revenue estimator, and also oversees state purchasing.”

What does Susan Combs have to do with me?

The Comptroller’s office oversees taxes, including your property taxes. They have a useful website–http://www.window.state.tx.us/taxinfo/proptax/–that we’ve referenced several times here on FYP, LLC.

The Comptroller’s office will have complete and accurate information regarding your property taxes. Before spending money on agencies–whether it’s for a property tax loan or a service that will help you protest your property taxes–look at the Comptroller’s website for information. Be educated to avoid scams and disreputable companies.

5 protections for you & your property in the Texas constitution

Published by Research Editor on October 15th, 2012 - in Taxes

Our Texas constitution is a grand thing. Unlike other constitutions, including the United States Constitution, the Texas constitution restricts the power of the State government.

There are five main restrictions on the government for property taxes:

  • Taxation must be equal and uniform.
  • Generally, all tangible property must be taxed on its current market value. The Constitution provides certain exceptions.
  • All property is taxable unless a federal or state law exempts it from the tax.
  • Property owners have a right to reasonable notice of increases in appraised property value.
  • Each property in a county must have a single appraised value.

These government restrictions are your rights. They cannot be violated. If they are, protest your taxes immediately.

What is Delinquency?

Published by Research Editor on October 12th, 2012 - in Tax Penalties

Your 2012 property tax bill was sent on or around October 1. You have until February 1, 2013 to pay your bill. If you do not pay by then, your bill is called delinquent.

Delinquency means you are penalized 6% for the first month–with increasing penalties afterwards.

Delinquency also means you are open to further penalties, like late fees, warnings, and, ultimately, foreclosure.

How can I avoid delinquency?

Make sure your taxes are paid before February 1, whether you pay it yourself, use a property tax loan, or split your payments.

© 2013 FYP, LLC.