Homeowners around Houston and the state of Texas have an avenue for deferring payment of delinquent property taxes under certain conditions.
According to the Harris County Appraisal District, homeowners may postpone paying their current delinquent property taxes due on the appreciating value of their homes by way of a payment option called “residence homestead tax deferral” and filing a tax deferral affidavit. Once homeowners have filed the affidavit with the appraisal district, no taxing unit can start or continue a lawsuit for the deferred taxes as long as that person owns and lives in the home.
HCAD said this option will allow homeowners to pay the property taxes on 105 percent of the preceding year’s appraised value of their homestead, plus the taxes on any new improvements to the homestead. The remaining taxes will subsequently be postponed with interest accruing at a rate of 8 percent per year.
Most mortgage companies require tax payments to be current, so homeowners should check with their mortgage companies to make sure deferring taxes does not violate the terms of the deed of trust.
“Homeowners should be sure they have applied for and received their homestead exemption,” HCAD Chief Appraiser Roland Altinger said in a statement. “This can be done without cost at (HCAD).”
Exemption forms and applications can be found on the appraisal district’s website under the “Forms” tab on the top tool bar. For complete details about deferring taxes on the appreciating value of your home, contact HCAD’s information center at 713-957-7800 or visit its office at 13013 Northwest Freeway.
Information is also available on the Texas Comptroller’s Property Tax Assistance Division’s website at window.state.tx.us/taxinfo/proptax/.