Despite the Governor’s orders to start reopening Texas, there is still quite some time after the COVID-19 pandemic for things to get back to normal. Although many people were hit financially throughout this crisis, the knowledge of an upcoming property tax payment leers in the back of the minds of many homeowners right now.
At The Hegwood Group, we understand that times are stressful and that a large property tax payment can be daunting as our lives continue to exist in limbo. Whether you are planning for a residential or commercial property tax bill, here are some options to consider as we continue into 2020.
Can Your Financial Institutions Defer Payments?
Sometimes during a time of crisis, your financial institution could find a way to help you save some money. In fact, several companies right now are working with their customers to defer payments on accounts for a specific amount of time.
If you think that your bank or loan holder may be a business that is helping those affected by coronavirus, reach out to them. The money you save today could be a part of what goes towards your property tax bill in the future. However, keep in mind that every business offering these deferments has select options for their customers. Reach out and find out if your circumstances warrant their financial assistance.
Prepare to Dispute
Remember, you have 30 days to file a property tax dispute from the date you receive your assessment. Right now, due to COVID-19, many assessments in Texas are held up and getting to owners past the usual April date.
So, if you have a feeling that your property taxes will hike up and know that you have the information to dispute them (i.e. documentation or Homestead exemption), now’s the time to get your evidence together and seek a property tax consultant who can help you file a dispute within the correct time frame.
Seek Help From Your Local Government
Although your property taxes are due on Feb. 1st, your tax assessor will usually hear you out and offer some options if you can’t pay the full amount by the due date.
For example, in some counties, if you reach out to your clerk around the time your assessment comes in, you could be eligible to pay half in November, and the remaining amount in June. Other counties may allow you to pay what you can before Feb. 1st and work out a payment agreement that collects interest as you pay.
There are several options available to property owners trying to save themselves from paying one lump sum upfront. It’s really a matter of meeting with a property tax professional and finding out what the options are in your neck of the woods.
Schedule Another Appraisal
Finally, if you receive your assessment and are simply not sure that the information is correct, you can always schedule another appraisal and start gathering information for a dispute. From incorrect property boundaries to the accurate count of your bedrooms and bathrooms, the County makes mistakes too. That’s why we always say that double-checking never hurts if you feel like there are errors with the initial appraisal presented to you.
Get Your Property Tax Issues Resolved Safely with The Hegwood Group
Questions about your local property tax can easily become overwhelming. Trust a professional group of property tax consultants to help you find resolutions to your property tax concerns, especially during these challenging times.
At The Hegwood Group, we are still committed to helping you navigate the local tax landscape and can do so safely and efficiently. If you have concerns about your upcoming assessment or property tax bill, reach out to us for help. We are the tax professionals that put your wellbeing first.