Well, it's that time of year in Texas when the tax bills are now published and considered due and payable. That being said, I wanted to attempt a quick review of escrow account shortages and how it all works. Get ready to read slowly because this stuff can be really confusing. Just keep this in mind: in Texas, property tax values are based on the owner of the property and estimated value of the site as determined by the County Appraisal District as of Jan 1st.
Tax bills are available for the CURRENT year in OCTOBER and due by DECEMBER 31st.
In March, last year's bill is available. In August, last year's bill is available. In October, CURRENT year's bill is available. So on and so on.