close up of sign that spells T-A-X next to a small wooden house figure on a table.

What Happens If You Miss the Deadline to Pay Your Texas Property Tax?

In Texas, the deadline to pay your property tax bill is January 31st. With this date fast approaching, it’s crucial to get the help you need now if you are unable to pay your bill on time. Continue reading to learn what happens if you miss the Texas property tax deadline and how a property tax loan can help.

Penalties For Not Paying Property Taxes on Time

According to Texas law, once you become late on your property tax bill, you are subject to a 7% penalty from the start. From there, interest and penalty rates continue to accrue monthly, with one of the largest hits coming in July for most counties. After July, interest continues to increase with an additional 1% penalty that gets added each month. So, the longer you allow your delinquent taxes to go unpaid, the more penalties and interest are added to your bill. If you want a precise breakdown of the penalties and interest fees, check out our Texas property tax penalty and interest chart that provides a monthly breakdown.

Becoming delinquent on your taxes can lead to a lump sum of fees and penalties to pay off. It is important to note how much these penalties and fees could cost you and try to pay off your delinquent taxes as soon as possible.

Possible Foreclosure

Not only do you have to worry about the additional penalties and fees being tacked onto your property tax bill, but you may also be at risk of losing your home to foreclosure. By being delinquent on your taxes in Texas, a property tax lien is automatically placed on your property. This means the county taxing units have the ability to foreclose on your property if you do not pay your taxes in an appropriate amount of time. Every situation is different, but there is no telling when exactly a foreclosure on your home could take place, leaving you with little opportunity to prepare.

Get Your Property Taxes Under Control with Johnson & Starr

If you are worried you won’t be able to pay off your property taxes on time and want to avoid paying any additional penalties, interest, and fees, then a property tax loan could be right for you. At Johnson & Starr, our property tax loans can help you pay off your delinquent taxes and offer you the following benefits:

  • No credit checks or home inspections
  • No application fees
  • No missed time from work—we come to you for the closing
  • No money due at closing

No matter your situation, we will work with you to figure out a loan that fits your specific needs. Don’t put off your taxes any longer. Contact us today to find out how we can help.