Homeowners who have a homestead exemption and qualify for the Over 65 or the Disabled Person exemption, may postpone paying taxes by filing a Tax Deferral Affidavit with the appraisal district. This deferral only postpones the taxes and does not cancel them. Taxes continue to accrue interest at five (5) percent annually. When the homeowner no longer owns or resides in the home, the deferred taxes and interest become due. Any penalty and interest that was due on the tax bill for the home before the tax deferral will remain on the property and become due when the tax deferral ends. After the tax deferral ends and the taxes remain unpaid, on the 181st day, the taxing units may pursue tax collections, including full P&I and attorney fees.
If you have an existing mortgage, please contact your mortgage company/lender before filing for the tax deferral. Filing a deferral may not stop the mortgage company from paying your taxes.