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Relating to the waiver of penalties and interest if an error by a
mortgagee results in failure to pay an ad valorem tax.
No fiscal implication to the State is anticipated.
HB 1885 allow the governing body of a taxing unit to "waive penalties and interest on a delinquent tax if: the property for which the tax is owed is subject to a mortgage that does not require the owner of the property to fund an escrow account for the payment of the taxes on the property; the tax bill was mailed or delivered by electronic means to the mortgagee of the property, but the mortgagee failed to mail a copy of the bill to the owner of the property as required; and the taxpayer paid the tax not later than the 21st day after the date the taxpayer knew or should have known of the delinquency."
Texas Action supports HB 1885 for promoting the principles of limited government and property rights. This is a bill that while simple in scope, would help to protect property owners against the interest and penalties that accrue as a result of an oversight or mistake by their mortgage lender.
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