Re/max Excalibur Realty

Tax facts: Property tax late fees & more

by Julie Hillebrand 12/18/2022

Like most recurring expenses, property taxes have late fees if not paid on time. While the amount and specific consequences vary from one municipality to the next, property tax late fees are something homeowners will want to avoid. Here are some basic facts about paying your property taxes on-time and in the correct amount:

How property taxes are calculated

Property taxes are calculated based on many factors. However, you can estimate them for yourself by multiplying the assessed value of the home by the local tax rate. The number you come up with is likely not the exact amount you'll see on your bill, but it's a great way to familiarize yourself with the general amount.

How to pay your property taxes

Luckily, most property tax payments get wrapped into your monthly mortgage payments. Otherwise, you have the choice of paying the taxes directly on an annual or semi-annual basis. Depending on your tax authority, this may mean writing and mailing a check or paying through an online portal.

How to know if you qualify for exemptions

There are some exemptions for property taxes. Some of the most common exemption types are available to seniors, people with disabilities, veterans and homesteaders. These exemptions usually don't eliminate taxes completely, but can significantly reduce the cost.

What happens if you don't pay your taxes

If you fail to pay your taxes, you'll get a tax lien placed on your home. Liens can adversely affect your credit score, and if taxes are left unpaid for too long, they can become levies allowing the government to seize your property. It's important to stay up to date on your property taxes and reach out to a professional if you expect any issues paying on time.

About the Author
Author

Julie Hillebrand

My personal commitment is to exceed your expectations.

Thank you for taking the time to visit my site. I feel that it is very important to know who you are working with when making any real estate purchase or sale.

I am a dedicated and knowledgeable Tucson real estate agent who can provide you with the highly specialized information that will help you make the right decisions. It’s the combination of this unique market-knowledge and excellent negotiating skills that enable me to get you the optimal price for any property you plan to sell or buy.

I have been a Tucson real estate agent since 1997, I am a Relocation Specialist, Accredited Buyers Representative, Graduate of the Realtor Institute and Certified Distressed Property Expert. I have the knowledge, experience and education to assure your experience is a successful one.
In my spare time,  I enjoy spending time riding my horse, hiking, biking, skiing and anything in the great outdoors.

I'm sure you will love Arizona as much as I do. I look forward to working with you.