State laws impose property tax late fees for those who don't pay their taxes on time. These fees can vary in severity and amount by location, and often collect interest until you pay them in full. Luckily, property tax late fees are an avoidable expense as long as you understand your local tax code. Here are some tips to help:
Don't put it off
It's never too early to pay important bills. With property taxes, this is especially true. Even if your payment method is a simple online transaction, it pays to take care of it before the deadline. You never know when technology or otherwise could prevent your payment from going through on-time if you only have hours to spare. If mailing a check, allow ample time for postal delays caused by unexpected weather or other issues.
Know how to pay
It's common for phone lines to get busy close to tax deadlines. If you have a question or are unsure of how to pay, find an answer sooner rather than later. Investigate what sort of self-service options your municipality might offer, like online customer service or FAQs.
Understand penalty cancellation opportunities
If you happen to incur a late fee on your property taxes, it's best to pay it right away. However, in some rare circumstances, it's possible to have your penalty waived. If your local government offers a penalty cancellation request form, you can submit an official request to remove your late fees. These forms can take weeks to process, so act quickly if you think it might be the best option for your situation.
While property taxes constitute a major part of a homeowner's ongoing expenses, the best way to save money is to avoid late fees. Keep these tips in mind and consult your local tax authorities if you need more guidance.
About the Author
Meryl Diamond
While I was born and raised in Brooklyn, New York, I have spent the last 27 years living in the Lisle and Naperville area. The first single family home my husband and I ever owned was in Green Trails, Lisle. There were two things we loved about living in Green Trails - the sense of community and all the green space. This was a dream come true for my children who always had a friend to play with or a babysitter near by. For me, it gave me a chance to get to know the neighbors whom I have built lifelong friendships with. From neighborhood garage sales to summer barbeques, we always found reason to come together.
