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Advantages and Disadvantages of County Property Tax Payment Plans

With Texas having some of the highest property taxes in the country, it is common for home and commercial property owners to struggle to pay their property taxes on time. It may result in a need for a loan or payment plan within a specific Texas county. Using a county property tax payment plan may provide relief from a current financial burden, but if not paid on time, there can be serious consequences. 

What are County Property Tax Payment Plans?

Within the state of Texas, property tax bills are issued in October of each year and must be paid by January 31. Taxes that are unpaid by February 1 are considered delinquent. When a person is considered a delinquent taxpayer, the Texas Property Tax Code requires that property tax collectors offer the option of installment agreements, allowing taxpayers a certain amount of time and installments to pay off their accruing taxes from that year. 

These installments can vary depending on the county that you live in, although each county must operate within the guidelines of the Texas Property Tax Code. The advantage of having a county property tax payment plan is that it protects property owners from needing to secure a loan while avoiding foreclosure from the county taxing units. 

Are There Any Disadvantages to Paying Taxes Through the County? 

Unfortunately, there are a few disadvantages to paying a tax bill through a county payment plan. For example, while choosing to use such a payment plan will halt the possibility of losing your home and accruing penalty charges, they are incredibly strict because the County must follow the Texas Property Tax Code. These installment payments need to be paid at their specific deadlines or the risk of penalties is great.

Depending on your particular taxing entity, you will have a specific number of months to pay off these taxes, which can still lead to high monthly payments. Homeowners who have large tax amounts due in a short period of time may still be strained to pay on time. Aside from the high payments, if not paid on time, you are still at risk of being sued by the county or losing your home.

How We Can Help 

At Johnson & Starr we take pride in being a trusted tax lender that can save your home or business. We will work out a loan that specifically fits your needs and your unique situation. Instead of paying the sometimes overwhelming and strict payment options through your county, our property tax loans are flexible enough to adapt to nearly any loan requirement. To find out how we can help save your home or business – give us a call today at 800-203-9157.