The taxes deferred are those taxes for any value that exceeds 105 percent of your home's appraised value, plus any new improvements, from the preceding tax year. You must file a deferral application with the appraisal district before the taxes go delinquent, and you must pay the taxes based on 105 percent of the home's value. If you are 65 or older and have applied for the homestead exemptions for senior citizens, you may pay your current taxes on your home in four installments. The remaining payments are due before April 1, June 1, and August 1, without any penalty or interest. You must indicate on your first payment that you are paying your home taxes in installments.
Installment payments apply to all taxing units on the tax bill.
An over-65 homeowner may defer payment of the taxes. Homeowners who are disabled and apply for homestead exemptions also may pay their home taxes in installments. See the same steps above that an over-65 homeowner follows to pay in four installments. Homeowners whose residences are damaged in a disaster and are located in a designated disaster area also may pay their taxes in four installments, in the same months as over-65 or disabled homeowners do. The longer you allow your delinquent property taxes to go unpaid, the more expensive and risky it becomes for you.