Texans who are 65 years of age or older or disabled person/Veteran may postpone paying current and/or delinquent property taxes due on their homes by signing a residence homestead tax deferral. The individual must own the property and occupy the property as a residence homestead. Utilizing the deferral exemption is only a postponement of the taxes; this does not eliminate the responsibility of paying taxes on your property.
When filing a tax deferral you should know the following:
- Once the affidavit is on file, any and all taxes will accumulate with 5 percent interest per year for each tax year that is due. (0.4167% per month)
- A tax deferral does not cancel penalties, interest or attorney fees that were already due.
- Taxes will become due when the homeowner or surviving spouse no longer owns and resides in the home. If the tax debt remains unpaid, after 180 days from the change in residency, full penalties and interest will be imposed and taxing units may take legal action to collect the past due amount.
- The law extends the tax deferral to the surviving spouse of the person who deferred taxes on the homestead if the surviving spouse is at least 55 years old when the deceased spouse passes away.
If you have a Mortgage/Reverse Mortgage Company you will need to know:
- Before applying for a deferral you should contact your mortgage company to ensure they honor a deferral under your agreement.
- Your mortgage company can choose to pay your taxes at any time while they have a lien on your property.
- If you plan on participating in a reverse mortgage, they will require all taxes be paid in full annually, including all past due taxes before they will complete your paperwork.
To postpone tax payments, you must file a Tax Deferral Affidavit and submit it to:
Williamson Central Appraisal District
625 FM 1460
Georgetown, TX 78626
To remove the tax deferral, please complete the Deferral Removal Form and submit to:
Williamson County Tax Office
904 S. Main St.
Georgetown, TX 78626
Fax (512) 943-1619