Tax Foreclosures

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					Texas Property Tax
Basics

Bill King
BillKingHouston.com
June 2007
Property Tax Participants

Appraisal District

Appraisal Review Board (ARB)

 Local Taxing Units

The Taxpayer
Tax Calendar
 Appraisal – January 1 through April 30


 Protests – May 15 - July 25


 Tax Bills – Mailed October/November

 Taxes go Delinquent – February 1


 Delinquent Taxes to Attorney – July 1
Taxpayer Protest Process

 Notice of appraised value and
  exemptions – by May 15th

 File protest – DEADLINE – MAY 31


 Appear at ARB Hearing when scheduled


 May use an agent
Items a Taxpayer May Protest

 “Any action of the chief appraiser, appraisal
  district, or ARB that applies to and adversely
  affects the property owner.”

      Appraised value
      Unequal appraisal
      Inclusion on the tax roles
      Denial of exemptions
      Determination of ownership
      Failure to send required notices
Exemption Types

 Homestead


 Over 65


 Disabled


 Disabled Veteran
  Exemptions = Big Savings
                              With         Without
                              Exemptions   Exemptions
Appraised Value                $100,000     $100,000
$15,000 ISD Homestead
                                <15,000>
Exemption
20% Optional Exemption          <20,000>

Taxable Value                     65,000     100,000

Property Taxes Owed              $1,950       $3,000

Property Taxes Owed if Also       $ 742
Had an Over-65 Exemption
Other Over 65 Features

 Tax Ceilings

 Installment Payments

 Tax Deferral

 Spousal Death Benefit
             Past Due Payments Are
             Expensive        Penalties, Interest & Fees


 Statements mailed in October        Feb         7%
  or November                         Mar         9%
 Delinquent on February 1            Apr         11%

      Interest & Penalty after       May         13%
       January 31
                                      Jun         15%
 Goes to Attorney on July
                                      Jul     33% to 38%
      Additional fee of 15% - 20%.   After   1% per month
                                      Jul
Important to Know


 Jurisdictions cannot forgive taxes – the

   State Constitution requires all taxes,

   penalties and interest to be collected
Payment Arrangements

 Tax Office – Must be before July 1


      Penalty and Interest is still due, but if paid as
       agreed, no attorneys’ fees charged


 You can usually also enter a Payment
  Agreement with the law firm representing a
  jurisdiction for delinquent taxes
Tax Foreclosures

 If you do not pay, ultimately property will be
  sold in foreclosure sale

      Significant additional costs

      Can redeem property – 25%-50% premium
www.BillKingHouston.com

				
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