Every year Texas property owners are confronted with their annual property tax bill. Property taxes in Texas are extremely important and penalties for non-payment are severe. It is necessary to pay property taxes by the deadline in order to avoid extra charges such as penalties, interest, and collection fees. A property tax loan can help you avoid accruing unnecessary penalties, interest, and collection fees. It also helps to prevent county lawsuits that could eventually lead to county foreclosure. 

Property tax penalty rates in Texas:

In general, your local taxing authority is responsible for taxing your properties assessed value based on the type of property you have. If you are unable to pay the tax bill by the January 31 deadline, the property will start accruing penalties and interest monthly.

  • Property taxes are due by January 31st of every taxing year
  • On February 1st, the taxing authorities will charge a 6% penalty and 1% interest to unpaid tax bills
  • For each month after that, the county will add 1% penalty and 1% interest monthly until July 1
  • By July 1st, if the property taxes are still unpaid, the county can charge a 20% collection fee on top of the already accrued 17% penalty and interest charge
  • For each month after July, the county will continue to charge 1% interest monthly until the total tax bill is paid in full
  • By December, unpaid tax bills will have accrued a total of 47% in penalties, interest, and collection fees

We all want to pay our property taxes before they go delinquent. Ovation Lending understands that unforeseen events happen and  that is why we are here to help with a property tax loan. A property tax loan will help you get back on financial track all while avoiding the costly penalties and interest charged by the county. At Ovation Lending, our licensed loan officers will walk you through the entire process and answer any questions you might have all within a short amount of time. Call us today and find out what options you have! 877-419-7392