Best Year-End Prep Tips from Your Property Tax Consultants

Every year around the fall season, property tax consultants start to get a lot of questions when Texas homeowners receive their annual property tax bill. Usually, property tax is collected throughout the year based on an amount specified in your property’s mortgage agreement.

However, there are some situations where a property’s year-end tax can become more than a minor burden on a homeowner. If you are a homeowner that purchased your home outright, or inherited an already paid-off home, then you are subject to paying your year-end property tax in what may appear to be one lump sum. This can be thousands of dollars at once, and can easily put a stressful strain on an unprepared household. Here are our top tips for preparing for the surprise that is your year-end property tax when you own your home.

Save Throughout the Year

We know, this is the most obvious answer that someone could give for this situation. However, if you think about it, it’s not a bad idea. Your property tax is likely to not go up by much each year, so planning ahead and saving is helpful, even if you feel like you have saved too much.

By putting away 500 dollars a month after your initial property tax is due in February, you will have saved up $6,000 dollars for the next year’s property tax bill. By putting a bit of money away month after month and swearing off touching it, you essentially are paying what could be considered a “mortgage” type of payment in preparation for the big Tax Day.

Get to Know Your County ClerkGet to Know Your County Clerk and Property Tax Consultants

By meeting with the county tax assessor’s office, you can get a feel for who these people are and how they work. Not only that, but you are also opening the doors to asking questions. These questions can provide some interesting answers that can help you out if you find yourself in a bind.

For example, you could learn about potential early payment programs, where you pay half in November, and the other half of your property tax in April. Or if you are in a bind and cannot make the initial payment, working with property tax consultants and the country tax office will help you come up with a monthly payment plan to pay off the balance without worrying about legal issues. Also property tax consultants also work for you to help reduce the price you would have to pay on your property tax

Asking questions is important, but who you know is also very important when it comes to getting help with your taxes.

Know When Taxes Are Due

Knowing when your commercial and residential property tax is due is important. This is not only important for paying the actual tax on February 1, but it also helps with tax deductions. If you are able to pay off your property tax before January 1, you can deduct this payment from your 2017 Tax Return. However, payments made after that date bleed over into 2018.

Hegwood Group is Dallas’ Property Tax Consulting Firm

If you are a homeowner that constantly finds themselves worrying how they will pay off their massive property tax each year or you’re looking for help on a property tax appeal, get in touch with the Hegwood Group before Tax Day arrives. We strive to help you lower your property tax, and will work with you to help you get organized and pay off any remaining balances. Call us to find out about our services and how we can help relieve some of your tax stress.


Property tax consultants consultationBudgeting for taxes in 2018