Residential Property Tax Loans
Residential property tax loans are loans issued to help a property owner pay the property tax assessed on residential property. A residential property is property that people live on.
The State of Texas authorizes all counties to assess property tax on the value of residential property. Property owners typically receive their tax bills in the mail around November of each year. This bill shows the property’s assessed value and the amount of tax that is owed on it.
Property taxes are due upon receipt of the bill, but there is a grace period that gives property owners until January 31 of the following year to pay their property tax in full without incurring any late fees or penalties. Thus, property owners generally have about two months to come up with the funds to pay their property tax bill before incurring late fees and penalties.