The Tax Man May Cometh, but He Might Leave the Penalties and Interest Behind
There are many consequences of not paying your taxes on time, the first of which are penalties and interest. Even if you make arrangements to pay your taxes over the course of a year, the appraisal district still collects interest on the total amount due. However, if you did not receive a tax bill, those penalties and interest may be waived. While this is good news, it may not be as simple as it sounds.

Assuming you have updated your mailing information with the appraisal district in advance of them sending out tax bills, you can have the penalties and interest waived if you did not receive your tax notice. The Texas Property Tax Code states the appraisal district shall waive penalties and interest if the tax notice is returned undeliverable by the US Post Office and the appraisal district does not mail a new notice to the proper address within 21 days of the delinquency date.

The Texas Property Tax Code also stipulates the taxing entity shall waive penalties and interest on delinquent taxes if the taxing entity's actions caused or resulted in the taxpayer's failure to pay the tax before the delinquency date and if the tax is paid not later than the 21st day after the date the taxpayer knows or should know of the delinquency. Since the county tax collector makes it known property taxes for the current year are due by January 31 of the following year, many times it is assumed the due date is known and the homeowner is still responsible for the taxes by January 31. Any taxes not paid by January 31 are considered delinquent, whether a notice is sent or not.

While this area is very gray, there is reason to expect a tax notice in a timely manner by the tax collector's office. However, just because you don't receive one, doesn't mean you can ignore timely paying your taxes.

The smartest tactic is to make sure you are ready to pay your property taxes by January 31 of each year. If you feel your property's assessed value is too high, it's your right to file a formal protest. You can protest your property value yourself, or hire a professional consultant to handle your protest for you. Either way, there's no reason to pay more property taxes than is required by law.

Questions?
E-mail O'Connor & Associates, or call 1-800-856-REAL.


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Property Tax Tips

• Protest every year, and use all steps in appeal process when necessary



• Protest both market value and unequal appraisal



• Obtain data to prepare for hearing



• Be aggressive; demand results

About O'Connor & Associates

As Texas' largest property tax consulting firm, O'Connor & Associates has the expertise and the manpower to help you lower your property taxes. In 2007 O'Connor & Associates reduced our Harris County clients' assessed value for 75% of residential protests and 80% of commercial protests.

Hire O'Connor & Associates to appeal your property taxes. You pay NOTHING unless we save you money!

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