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That time of the year - Property Taxes!

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Frequent Contributor

That time of the year - Property Taxes!

Hi my fellow myFICOers,

 

Its that time of the year when we pay our property taxes.

 

Do you have any creative ways or ideas of paying property taxes and still reaping some benefits/rewards from it? Other than the obvious writing a check, ACH or making a payment on the county's online portal.

FYI for this discussion - The county charges 2.35% if using a credit card.

Amex BCE | Discover | Chase Freedom | Citibank DC | SYNCB | Barclay Rewards | BoA Cash Rewards | CapOne QS | Chase CSR | Chase FU | Amex Ascend | 2019 Goal: Gotta make it to 200k |
Message 1 of 12
11 REPLIES 11
Community Leader
Super Contributor

Re: That time of the year - Property Taxes!

I'm to assume this discussion is for other than apping for a card for its SUB? Because that's the easiest way even with a high service fee still worth it.

Message 2 of 12
Frequent Contributor

Re: That time of the year - Property Taxes!


@simplynoir wrote:

I'm to assume this discussion is for other than apping for a card for its SUB? Because that's the easiest way even with a high service fee still worth it.


It is. Just looking to see if someone has creatively tried to maximize (benefited from) making a big payment every year.

Amex BCE | Discover | Chase Freedom | Citibank DC | SYNCB | Barclay Rewards | BoA Cash Rewards | CapOne QS | Chase CSR | Chase FU | Amex Ascend | 2019 Goal: Gotta make it to 200k |
Message 3 of 12
Community Leader
Mega Contributor

Re: That time of the year - Property Taxes!


@piroskavalentino wrote:

@simplynoir wrote:

I'm to assume this discussion is for other than apping for a card for its SUB? Because that's the easiest way even with a high service fee still worth it.


It is. Just looking to see if someone has creatively tried to maximize (benefited from) making a big payment every year.


Yes, new card with decent  SUB, then you dont have to be creative. 

EX 754 EQ 774 TU 752


Message 4 of 12
Senior Contributor

Re: That time of the year - Property Taxes!


@piroskavalentino wrote:

Hi my fellow myFICOers,

 

Its that time of the year when we pay our property taxes.

 

Do you have any creative ways or ideas of paying property taxes and still reaping some benefits/rewards from it? Other than the obvious writing a check, ACH or making a payment on the county's online portal.

FYI for this discussion - The county charges 2.35% if using a credit card.


Well, I don't know of any CCs that pay more than 2% rewards except ones that pay 3-5% on specific categories, and property taxes are never one of the categories.

Are there other options? My county charges 2.5% if using a CC w/third party processor, but also has the option of a flat $3.95 fee for a debit card, so for a large tax bill a debit card with 1% rewards might net you a small gain.

 

My option isn't available to most folks: I use my PayPal Business Debit card w/1% rewards, and then have my PayPal 2% Cashback MC set for "backup funding" for an additional 2%, combined rewards of 3%. So I come a bit ahead, but I do it more for the convenience of paying online and not having to write a check and mail it. I mail something once or twice a year so that always involves having to go buy a stamp.


Fico 08: 734/716/734 TU/EX/EQ
Message 5 of 12
Community Leader
Super Contributor

Re: That time of the year - Property Taxes!


@DaveInAZ wrote:

@piroskavalentino wrote:

Hi my fellow myFICOers,

 

Its that time of the year when we pay our property taxes.

 

Do you have any creative ways or ideas of paying property taxes and still reaping some benefits/rewards from it? Other than the obvious writing a check, ACH or making a payment on the county's online portal.

FYI for this discussion - The county charges 2.35% if using a credit card.


Well, I don't know of any CCs that pay more than 2% rewards except ones that pay 3-5% on specific categories, and property taxes are never one of the categories.

Are there other options? My county charges 2.5% if using a CC w/third party processor, but also has the option of a flat $3.95 fee for a debit card, so for a large tax bill a debit card with 1% rewards might net you a small gain.

 

My option isn't available to most folks: I use my PayPal Business Debit card w/1% rewards, and then have my PayPal 2% Cashback MC set for "backup funding" for an additional 2%, combined rewards of 3%. So I come a bit ahead, but I do it more for the convenience of paying online and not having to write a check and mail it. I mail something once or twice a year so that always involves having to go buy a stamp.


Then your options are something like the above if it's an available option or something even like a greater than 2% card like BofA Preferred Platinum Honors holders where you BARELY come out ahead even with a 2.65% earning card. Other option is depending on what rewards program you're in you can use an MR/UR/etc. earning card and while you won't initially get good value on it depending on how you redeem your points (hotels, intl flights, etc.) you can get some good returns even figuring in the original service fee. Or at the very least break even and you show at least significant usage on a card for future CLI considerations. But yes it's really hard for something specific like this to get any return at all. Would just suggest using a debit so you don't have to deal with paper if that's the case.

Message 6 of 12
Senior Contributor

Re: That time of the year - Property Taxes!

BBP and Schwab Platinum.

2x MRs with a cash floor of 2.5%.

...when I'm not chasing a bonus.
Most spend: CSR, CFU, BBP
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Potential closures/downgrades: Savor, BCP, Double Cash
Message 7 of 12
Moderator Emeritus

Re: That time of the year - Property Taxes!

I suppose it depends how it codes.

 

Some of those payment portals might code for online services, and that's a choosable reward category on things like BOFA's 3-2-1 cash rewards card or whatever they're calling it these days.

 

Agreed default spender is the guaruntee, but really I just pay online because it's so damned convenient and the rewards come relatively close to the LA county rate.

 




        
Message 8 of 12
Senior Contributor

Re: That time of the year - Property Taxes!

I feel bad for people who have to pay their property taxes in December or January. Ours are due in 4 payments: August, October, January & March. We try very hard to pay them off by October.









Message 9 of 12
Valued Contributor

Re: That time of the year - Property Taxes!


@macinjosh wrote:

I feel bad for people who have to pay their property taxes in December or January. Ours are due in 4 payments: August, October, January & March. We try very hard to pay them off by October.


Ours are due May and July if tax bills come out on time if not then Jun and Aug.   Of course mine just go to escrow so I'm paying them every month with the mortgage. 


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