Understanding Your Property Tax Deadlines and Appeal Rights

El Paso, Texas

Real Property Update

for

October 1, 2024

Dear Homeowners,

As part of our commitment to keeping you informed and financially prepared, we want to ensure you are fully aware of your property tax responsibilities and rights as a homeowner in El Paso County, Texas. Below is essential information regarding your upcoming tax obligations and your right to appeal your property's assessed market value.

Key Tax Deadlines

Property tax bills in El Paso County are mailed out each year in October. For the 2024 tax year, you should receive your bill shortly after October 1, 2024, which marks the beginning of the property tax season. Please mark your calendars to ensure you receive and review your tax bill promptly.

Important Dates to Remember:

• October 1, 2024: Property tax bills are mailed by the tax assessor.

• January 31, 2025: Deadline to pay property taxes without penalty.

• February 1, 2025: Taxes become delinquent; penalties and interest begin to accrue.

(Source: Comptroller.Texas.Gov)

Avoiding Penalties

According to Section 33.01 of the Texas Property Tax Code, penalties and interest are imposed on delinquent property taxes. Here's a breakdown of how these charges accrue if property taxes are unpaid after the January 31 deadline:

1. Penalty on Delinquent Taxes:

   • On February 1, if the property tax is not paid, a 6% penalty is imposed on the unpaid balance.

   • In March, the penalty increases to 7% and continues to rise by 1% each month thereafter until July, when the penalty reaches 12%.

   • After July 1, an additional penalty of up to 20% may be imposed if the taxing unit has contracted with an attorney for collection, making the total penalty potentially 32% (12% statutory penalty + 20% collection penalty).

2. Interest:

   • In addition to penalties, interest accrues at 1% per month starting from February 1 on the unpaid tax balance.

This penalty structure is designed to encourage timely payment of property taxes and applies statewide, including in El Paso County.

Continued non-payment could result in liens against your property, which may have serious long-term consequences.

(Source: Texas Property Tax Code, Section 33.01 - Penalties and Interest)

Knowing Your Rights

Your Right to Appeal Your Property's Assessed Market Value

In addition to meeting your payment obligations, you have the right to challenge the market value assessed by the El Paso Central Appraisal District (CAD), which determines how much you owe in property taxes. If you believe your home has been overvalued, you can appeal the appraisal to potentially lower your taxes for the next year.

1. Review Your Appraisal

• Each spring, typically in April, you will receive a notice of your property's assessed value. Carefully review this document, as it directly impacts your tax obligations.

2. Filing a Protest

• If you believe your property has been overvalued, you can file a formal protest with the El Paso Appraisal Review Board (ARB). The deadline for filing is May 15 or 30 days after you receive your appraisal notice, whichever is later. Filing your protest on time is critical for it to be considered. (Source: Texas Comptroller's Office)

3. Gathering Evidence

If you wish to challenge the appraisal on your own, you can gather supporting evidence in the following ways:

• Research Comparable Sales: Find recent sales of similar properties in your neighborhood. This information can be accessed via online real estate platforms or by consulting local realtors.

• Document Property Condition: Take photos of any damage or deterioration to show that the property's condition may not support the assessed value.

• Obtain an Independent Appraisal: Hiring a professional appraiser can provide a credible, independent valuation, which may be lower than the CAD's figure.

4. ARB Hearing

Once your protest is filed, the ARB will schedule a hearing. This is your opportunity to present your case and the evidence you have gathered. You can represent yourself or authorize someone else, such as a property tax consultant or an attorney, to represent you. (Source: Texas Comptroller's Office)

*While it is possible to handle the appeal independently, seeking assistance from a property tax professional may improve your chances of a successful reduction.

Final Thoughts

Paying your property taxes on time is essential to avoid penalties. Equally important is ensuring that your property's assessed value is accurate. By exercising your right to appeal, you may reduce your tax liability for the upcoming year. Whether you choose to navigate the process independently or seek professional assistance, we are here to support you.

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Sincerely,

The Team at Freedom Capital Management

Helping You Navigate Property Taxes with Confidence