Public Information Office
210 S. McDonald St. Suite 540
McKinney, TX  75069

FOR IMMEDIATE RELEASE

CONTACT: Leigh Hornsby, Public Information Officer
972-548-4772
publicrelations@co.collin.tx.us

January 21, 2003

Collin County Property Tax Deadline Approaching

(McKinney, TX) - The deadline for Collin County residents to pay their property taxes is quickly approaching. All payments must be received or postmarked by January 31st.

For a fifth straight year, the county kept the rate consistent at $0.25 per $100 of assessed value. While the county is only a small percentage of the overall property tax bill, failure to pay the tax can lead to significant penalties and interest on all taxes unpaid.

According to Collin County Tax Assessor Kenneth Maun, the county should have all payments posted by February 7th. His office will then print delinquent statements for all accounts with a remaining balance and mail them along with a letter explaining why property owners are receiving the statement. His office also requests notification if there is an error. Delinquent taxpayers will be assessed seven percent of the balance for penalties and interest on February 1st. The penalty will also increase two-percent each additional month.

If payments aren't received by May, the tax assessor's office will again mail statements on all remaining outstanding balances with mention of attorneys, penalties, fees and interest. If the taxes are still unpaid by July, the county's delinquent attorneys will mail statements and may pursue legal action. An additional 15-percent penalty will then be added to the outstanding balance.

Out of the 215,405 property taxpayers in 2001, Maun's office received 94 percent of the payments by the 2002 deadline.

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