THE CHIEF'S APRAISAL: Get the details on making this year's property tax payments

Tax statements have been mailed, payments are coming in and so are the questions. Here are a few of the most frequently asked.

>> QUESTION: Do I have to pay my taxes all at once?

>> ANSWER: If you are receiving the over 65 or disability exemption, you can pay your taxes in four equal installments over the next eight months without being subject to penalty and interest fees. The first installment is due by Jan. 31, 2012, the second due March 31, 2012, the third due May 31, 2012 and the final payment due July 31, 2012. Contact our office to initiate the installment process.

For all other taxpayers, we will accept payments in any  amount so, if you want to, feel free to spread out the total amount by paying one third in November, December and January. Unless you qualify for the over 65 or disability exemption installment option, unpaid taxes on Feb. 1, 2011 will accrue a 6 percent penalty plus a 1 percent interest fee.

>> Q: I have several properties; can I write one check to pay all the taxes?

>> A: Yes. We can process your payment just about any way you want us to.

>> Q: If I pay early, do I get a discount?

>> A: No. There are no early payment options available for the taxing entities in Ector County.

>> Q: Can I pay with a credit card or e-check?

>> A: Yes. You can go to our website at www.ectorcad
.org search for your property by name, address, or account number then go to the account and look for the Pay Now button at the bottom of the “unpaid tax amounts” section. New for this year, we can also accept credit card payments in the office. If you pay with a credit card, you will be charged the  credit card processing fee of 2.5 percent. E-check payment processing fees are $2.00.

>> Q: I’ve been paying into an escrow account with my mortgage company. Why was my tax statement mailed to me? Or, I paid off my mortgage, why didn’t I get my tax statement?

>> A: The answer to both questions is the same. We mail statements to mortgage companies based on the mortgage company’s request for statements. That process usually occurs in June. The first run of statements, which is mailed in October, does not reflect the new or paid off mortgage company accounts that transpired after June. Statements for new mortgages and paid off mortgages will be sent to the appropriate owner in a supplemental process, which is usually in December. So what should you do? If you got the statement but should not have, go ahead and forward it to your mortgage company. If you did not get your statement, please call our office and we will be happy to send a copy immediately.

>> Q: My value stayed the same. How can my taxes go up?

>> A: Taxes on residential homesteaded properties are determined by two factors. The taxable value of your property and the tax rates set by the local entities. The 2011 tax rates changed very little this year. A list of the actual rates from year to year can be found on our website. There are three values associated with local property taxation. They are the market, appraised and taxable values. The market value is what property comparable to
 yours is selling for on the open market. The market value will fluctuate from year to year based on the local economy and housing supply and demand. The Texas Legislature has set a limit on how much property values can be raised for tax purposes from year to year.

The legislature exacted a law that set a limit of 10 percent that a property’s appraised value can increase. The appraised value is therefore the lower of the market value or a 10 percent increase over the previous year’s appraised value. Once the appraised value is determined, residential homestead exemptions are applied to arrive at the taxable value.

If your 2011 appraised value is less than the market value but at least 10 percent greater than your 2010 appraised value, then your taxable value will be more and your taxes will reflect the increase. So your market value can stay the same or even decrease but because the appraised value is more than the previous year, your taxes will be more.