Property taxes are a significant financial responsibility for homeowners in Texas. Understanding the key dates associated with property taxes is crucial to avoid penalties and ensure a smooth tax payment process.
In this blog post, we’ll walk you through important tax dates in Texas, helping you stay informed and prepared for your property tax obligations.
January 1: Property Appraisal Date
The property tax cycle in Texas begins on January 1 of each year. On this date, the appraisal district assesses the market value of your property. This value serves as the basis for calculating your property taxes.
It is essential to know that any improvements or changes made to your property before this date may affect your tax liability for the year.
April 1: Notice of Appraised Value
The Texas Property Tax Code mandates that appraisers send the Notice of Appraised Value by April 1 or soon thereafter. You can expect to receive a Notice of Appraised Value from your local appraisal district.
This notice outlines the appraised value of your property and provides important information regarding how to protest your property’s value if you disagree with it. It’s crucial to review this notice promptly and understand your options for filing a protest.
May 15: Deadline to File a Protest (30 Days after Notice)
Once you receive your Property Value Notice, you have until May 15 or 30 days after receiving the notice (whichever is later) to file a protest if you believe your property has been overvalued or if there are errors in the assessment. Filing a timely protest is crucial if you wish to challenge your property’s valuation.
September: Property Tax Rates are Set
Each taxing entity is required to set their tax rates by the end of September.
October: Property Tax Bills are Sent
Property tax bills in Texas are typically sent out by local taxing authorities in October. These bills include the total amount you owe for the year and provide details on payment options, including installment plans, if available in your area.
January 31: Property Taxes are Due
The property tax deadline in Texas is January 31. This is the date in which property taxes imposed from the previous year must be paid to avoid penalties and interest. It’s essential to mark this date on your calendar and make arrangements to pay your property taxes on time.
February 1: Late Payment Penalties
If you miss the January 31 deadline, taxes become delinquent on February 1. You will incur late payment penalties and interest. The penalty starts at 6% of the unpaid taxes and increases each month. Additionally, interest accrues at a rate of 1% per month until the taxes are paid in full.
Staying informed about these important property tax dates in Texas is essential for homeowners. If you have concerns about your property tax assessment or need assistance with your property tax protest, our team of experts is here to help you navigate the process successfully.