The state of Texas collects a huge amount of revenue used to provide essential services like schooling, roads, street lighting, police and fire protection through property taxes. These taxes are collected annually from owners of commercial property and homeowners all over the state.
Property tax loan providers in Houston, TX, are now offering diversified loan products to help local homeowners meet their tax obligations in time. One of the most common questions asked when applying for property tax loans is whether the loan could be used to cover maintenance expenses like an ongoing tree service.
What is Covered Under Property Tax Loans?
Just as there are different providers of property tax loans in Houston, the conditions they attach to the loan offers are similarly diverse. But in general, property tax loans do not provide for maintenance expenses on your property. This would exclude such ongoing services like tree service, painting or landscaping.
Providers of property tax loans usually submit the loaned amounts directly to the local county authorities. This amount is usually the designated tax for the particular property. In Harris County, the property tax rate is about 1.81 percent of the assessed property value.
By the same token, it is not possible for the property owner to use the loan for covering ongoing maintenance costs for services such as tree removal and trimming.
Can I get a Loan to Cover Ongoing Maintenance Service from my Property Tax Loan Lender?
Ongoing house maintenance costs such as tree trimming, removal of fallen trees or house leveling would fall under home improvement expenses. According to Direct Tax Loan, Houston-based property tax lender, it is not possible to lump them together with property tax. As such, if you want to get loans to cover such ongoing maintenance costs, you need to look for a provider of home improvement loans.
Luckily, many providers of property tax loans are also licensed to offer home improvement loans. However, the loans are treated as different products with different terms and conditions attached.
If you already have a property tax loan account with a provider of financing services, you can talk to them about offering loans to cover your ongoing home improvement costs. It is possible they will offer you preferential repayment terms as you already have an account with them.
How Can Property Maintenance Services Provider Help?
If you have a regular provider of home maintenance, janitorial and cleaning services, you can talk to them about options for financing ongoing expenses such as a tree service.
Such loans are usually classified as personal loans and have low threshold for eligibility. In some cases, your credit history will not be taken into account to determine if you are eligible for the loan offer.