This interest is deferred until the home is sold or the owner dies. There is a 5% annual interest fee on deferred taxes, compared to 24% on unpaid taxes that are not deferred. However, it's crucial to carefully review the eligibility requirements, as well as any interest or penalties that may accrue during the deferral period, to make an informed decision about utilizing this option. Homeowners should consider utilizing property tax deferrals when they are facing financial constraints and are unable to make timely payments. It's important to note that property tax deferrals are not forgiveness programs but rather temporary postponements. These deferrals are designed to assist individuals who may be facing financial hardships, To qualify for this deferral, you must be a senior, a person with a disability, or the surviving child or spouse of a senior or person with a disability.īy deferring property tax payments, eligible homeowners can alleviate immediate financial burdens and gain more time to manage their tax obligations. In Texas, property tax deferrals offer homeowners the option to delay the payment of their property taxes under certain circumstances.