A property tax lender is a person who engages in the business of making, transacting, or negotiating property tax loans; or contracts for, charges, or receives, directly or indirectly, in connection with a property tax loan subject to chapter 351 of the Finance Code, a charge, including interest, compensation, consideration, or another expense, authorized under this chapter.
These lenders facilitate loans to property owners to pay off property taxes when the property owner can’t pay. Property tax lenders will make loans against due or delinquent property taxes.
Resources
Statutes & Rules
These are the primary statutes and rules that apply to property tax lenders. This is not a complete list of laws that property tax lenders are required to comply with.
Primary State Statute
Chapter 32, Texas Tax Code: Tax Liens and Personal Liability
Chapter 351, Texas Finance Code: Property Tax Lenders
OCCC’s Rules
Title 7, Chapter 89, Texas Administrative Code
Other State Statutes
Texas Constitution and Statutes
Federal Statutes & Rules
U.S. Government Publishing Office
Renewal Dates
November 1 – Renewal Opens
December 31 – Renewal Closes
****Licenses not renewed by midnight will Cancel***
January 1- Reinstatement* period opens
Licenses not renewed by December 31 have 180 days after the cancellation date at midnight to reinstate* their cancelled license(s). Licenses not reinstated not later than the 180th day after its expiration date (December 31) will Cancel-Non Renewable and you will need to reapply.
*Reinstatement – $1,000 late filing fee + the renewal fee for each license you are reinstating.