Navigating Your Annual Property Tax Bill - November Property Tax Update

As the beautiful Fall sun sets on the year, our community has some exciting things ahead - holidays, preparations for a great next year AND property taxes...

Okay, so I am sure property taxes aren't at the top of your list when you think about rounding out another year, BUT slowing down to think about them is important! Your property tax bill is not just an envelope; it's a crucial document that holds the key to understanding your financial responsibilities as a property owner. In this article, we'll share invaluable advice on decoding and managing your yearly property tax bills, shedding light on why staying informed is essential for homeowners like you.

Education is Empowerment
Navigating the complex landscape of property taxes can be daunting, but knowledge is your greatest asset. We'll break down the essentials, from deciphering assessment methods to exploring potential exemptions. Arm yourself with the knowledge needed to make informed decisions that impact your financial well-being. Our blog emphasizes the critical need for homeowners to be aware and educated about property tax matters. Unraveling the complexities ensures you aren't caught off guard, helping you avoid potential pitfalls and financial strain. Knowledge is the first step towards empowered homeownership.

Where and When to Receive Your Property Tax Bill

• You or your mortgage company should be receiving your tax bill in the mail sometime this month or next.

• You should also be able to find it online here once it is posted:
  Travis County   |   Williamson County   |  Hays County   |  Bastrop County

• *Note from TCAD, 2022: State law allows us to begin mailing tax bills on Oct. 1. However, we must wait for all government entities to send their tax rate to our office, and the results of elections (such as a bond election) where voters may decide additional tax rates, before we can mail out tax bills. The fastest way to receive your tax bill is by email by signing up for eBill.

How and When to Pay Your Property Tax Bill

• If your property taxes are escrowed from your monthly mortgage payment,
  your lender should be receiving a copy of the bill as well and should take care of paying the yearly tax bill in December. You are welcome to confirm either with your servicer or at the county tax office link above that your bill was paid in the next couple months.

• If your property taxes are not escrowed from your monthly payment,
  don’t forget to send in your payment by January 31st!
  
  

What to Do Next...

• Check for your homestead exemption status to ensure you are taking advantage of all money-saving benefits that exemptions come with. You can check your status by searching for your address in the property search feature of your county's Central Appraisal District:
  TravisCAD   |   WilliamsonCAD   |   HaysCAD   |   BastropCAD
  
  
• For more education on the benefits of a homestead exemption, check out these resources:
  • How can a homestead exemption save me money?
  • Save Your Tax Dollars! Check Your Homestead Exemption TODAY

• Once your bill is posted/paid, consider contacting your servicer to discuss any changes that might happen to your monthly payment next year and prepare either for any escrow increases, or escrow overages that you might be able to have refunded. In the event your property tax bill increased, they can advise you on what your options are (usually when you have an increase in monthly payment you can choose to add to your monthly cost, or pay in a lump sum).

• If you plan to sell a home within one of these counties in the next year, reach out to us so we can explain the process and calculation of giving the future homeowner your portion of the year's property taxes and how to get a refund for the money you've paid into your escrow account.
  
  

Don't stop here! At The Ramirez Team, we're dedicated to demystifying the world of real estate. Save this website, bookmark our YouTube channel, and follow us on social media for regular updates. Whether you're searching for Austin real estate gems or aiming to master the art of building wealth through property, we've got you covered. Stay tuned for more insightful videos, blog posts, and resources designed to fuel your real estate ambitions. Your dream home awaits – let's make it a reality together!

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At The Ramirez Team, we understand the complexities of real estate, and we're here to simplify them for you. Don't miss out on the opportunity to make well-informed decisions and embark on a successful real estate journey. Join our community of educated homebuyers - together, let's unlock the doors to homeownership and build wealth through real estate.  Our YouTube video series is dedicated to addressing common homeowner questions and offering practical, money-saving tips. Whether you're a first-time buyer or a seasoned homeowner, our videos cover a wide array of topics, including understanding property taxes, mortgage refinancing, home improvement ROI, and much more.

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