Can Low-Income Homeowners Get Property Tax Help in Texas?
Are you wondering if there is any property tax help for low-income homeowners in Texas? We understand receiving your property tax bill can feel overwhelming, but there is hope. Let’s discuss the options available to you.
The Homeowners Assistance Fund
The Texas Homeowner Assistance Fund (TXHAF) is managed by the Texas Department of Housing and Community Affairs (TDHCA) and offers assistance until the funds run out or until December 31, 2026. See if you qualify for TXHAF here. The fund provides property tax help in Texas to eligible homeowners with past-due payments. Who might be an eligible homeowner? There are several criteria, but if your household income is at or below the 100% Area Median Income (AMI), or 100% of the median income for the United States, whichever is greater, you might qualify.
Property Tax Exemptions
Taxing units in Texas are required by the state to offer certain mandatory property tax exemptions. Eligible persons must apply for the exemption at the appraisal district in which the property is located. Who might qualify for property tax exemptions in Texas? * Individuals aged 65 years or older * Persons with disabilities * Disabled veterans or their unmarried surviving spouses who qualify * Surviving spouses of first responders killed in the line of duty * Heirs of inherited residence homesteads * Owners of residence homesteads.
Other Payment Arrangements Available from the County
County might offer property tax help for low-income homeowners. If you got the county payment route, you will typically have to pay the back balance relatively quickly and missing a payment can(https://comptroller.texas.gov/taxes/property-tax/pay/options.php) allow for the retroactive inclusion of all the previously waived penalties. So it can be a big gamble that you will be able to make those payments. Additionally, all county payment plans carry statutory interest of 12.0%. Property tax loans offer far more flexibility and generally less downside risk to a missed payment or two.
Even so, inquire with your local tax collection office on the available payment options, and although the terms are strict, it could be just the assistance you need. Separately, persons with disabilities and individuals aged 65 years and older can apply for a deferral of the property taxes on their residence homestead or pay in installments. Split and partial payments are also available.
Protesting Your Property Appraisal
One of your most important rights as a taxpayer is to protest when you disagree with the property appraisal done by your appraisal district. You can do this with the appraisal review board (ARB), a decision-making body acting independently of Districts. Before filing with the ARB, you should request an informal conference with the appraisal district to resolve the matter. Protesting your property appraisal with the ARB can be done without legal assistance, but you should present a clear case to have a chance of winning.
Property Tax Loans
When you need help paying property taxes in Texas, property tax loans are an option. How does a property tax loan work? You apply for a loan with a property tax lender, who, after reaching an agreement, pays your taxes directly to the Tax Collector. Then, the lender works with you to design a payment plan that is affordable to you. All legitimate property tax lenders are licensed with the Texas Office of Consumer Credit Commissioner (OCCC). AFIC is proud to have its President serve on the board of the Texas Property Tax Lienholders Association (TPTLA). TPTLA is a collection of lenders committed to the highest ethical standards in the industry.
Why Property Tax Loans Are a Good Option for Low-Income Homeowners
Every year on January 1, your appraisal district appraises your property value, and a lien is automatically attached to ensure the property taxes are paid. Besides the lien, unpaid taxes incur penalties, interest, and fees. A property tax loan that immediately pays off your property tax means you don’t have to pay any interest and penalties on your outstanding tax. And when the loan repayment terms are suited to your budget, you can pay your debt and have funds for everyday expenses. Property tax loans are great for low-income homeowners and property owners of greater means that may have other demands on their resources.
Get Help from A Property Tax Lender that You Can Trust
AFIC can provide you with an instant quote by completing the form on our homepage. For qualifying properties, we can help you pay off your delinquent taxes and offer you the following benefits:
- Quick and completely online process
- No money down
- No credit check
- Free 30-day rate match
- Match competitors and beat their rate by 1%
- Avoid high penalties and foreclosure
We pride ourselves on finding solutions to suit the unique needs of our clients. If you would like to discuss our property tax loans, please contact our experienced team at AFIC today.
