Defer Property Taxes for TX Home Owners
Did you know that certain elderly and disabled homeowners may defer or postpone paying the property taxes on their homes until their death or until they move from the home? Many of our elderly and disabled homeowners are living on fixed-incomes, this option may be appropriate for some homeowners. Interested agents and homeowners can get more information on tax deferral from the county appraisal district office but the information below should give you a basic understanding.
Texas law says a homeowner age 65 or older, or disabled may defer or postpone paying any taxes on their home for as long as they own and live in that home. To postpone tax payments, the homeowner must file a "tax deferral affidavit" with the county appraisal district. The deferral is for all property taxes on the person?s home. This includes the school district taxes, county taxes, city taxes, junior college district taxes or any other taxing unit that taxes the person?s home.
It is important to note that a tax deferral only postpones a person?s property taxes. It does not cancel them. The taxes will accrue interest, but not penalty, at a rate of 8 percent a annually. The interest is simple interest. Taxes delinquent before the homeowner applies for a deferral may have accrued penalty and interest. The delinquent penalty and interest remains and becomes due when the deferral period ends. If taxes are not delinquent when you file the affidavit, they do not become delinquent during the deferral period. In addition, the homeowner may pay their taxes at any time, however the deferral remains until the owner dies or the property is no longer their homestead. Once the owner or their surviving spouse no longer own or live in the house, the deferred taxes and interest become due 181 days later.
What if the tax office has already filed suit against the homeowner to collect the delinquent taxes? Filing the tax deferral form also prevents the tax office from getting a court order to sieze the home and sell it at a delinquent tax auction. However, the homeowner needs to file the deferral document no later than 5 days before the date of the tax sale. The deferral affidavit may be filed at the appraisal district office, tax office or with the delinquent tax attorney representing the tax office(s). After filing the deferral, the tax office cannot sell the home at a tax foreclosure auction until the 181st day after the homeowner or their surviving spouse no longer own and occupy the home.
The homeowner should file the completed affidavit with the county appraisal district where the home is located. You can go to the State Comptroller?s website (Texas) for the documents or view their website for more information on this property tax law.
I grew up in the Austin Texas area in Lago Vista to be exact, and enjoy the fun this town has to offer, like boating on Lake Austin with my friends. I truly enjoy my job in selling Austin Real Estate. I also enjoy helping agents grow there business in other parts of Central Texas such as Kyle TX.
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