Tax impounds have become the standard method for homeowners to pay their property taxes. Most banks prefer that you pay your taxes with your mortgage payment. Every month when you send your property tax payment to your bank, they hold your property tax payments in a non-interest bearing account until they are due. When the taxes become due the bank or the loan servicing company will pay them for you. Generally we pay property taxes twice a year: 1st half is due on November 1st and becomes deliquent on December 10th; 2nd half is due on February 1s and becomes deliquent on April 1st.