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Old 08-24-2009, 11:07 AM
 
22 posts, read 52,752 times
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What is the interest rate for homeowners over 65 defering property tax payments?
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Old 08-24-2009, 11:32 AM
 
Location: A little suburb of Houston
3,700 posts, read 11,270,240 times
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Maybe I'm missing soemthing or do not understand the question? What does interest rate have to do with property tax?
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Old 08-24-2009, 11:38 AM
 
22 posts, read 52,752 times
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An individual who owns a home in Texas who is over 65 may elect to defer paying property taxes until the home is sold by the individual or the taxes are paid by the estate.
Interest is accrued on the deferred taxes.
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Old 08-24-2009, 12:06 PM
 
Location: Central Texas
16,395 posts, read 22,627,024 times
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Where did you get that?

ETA: Never mind, I found it in a Real Estate Practices book by googling the exact wording of your query. I'd like to see the actual statute, but in that book (can't see if it's the current edition or not), it states that the interest rate is 8%.
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Old 08-25-2009, 06:35 AM
 
Location: A little suburb of Houston
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Learn something new every day....
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Old 08-25-2009, 01:52 PM
 
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Interesting! We often see an empty home for sale that has 20 years back taxes due and know that the owner lived there til they died and wondered 'How were they able to live there and not pay taxes?' Now we know!!
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Old 08-25-2009, 01:55 PM
 
Location: Central Texas
16,395 posts, read 22,627,024 times
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It does state in the book that if you are delinquent in your taxes that you can apply for the deferment. That's why I'd like to see the actual statute, to see what it really says.
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Old 08-26-2009, 06:29 AM
 
22 posts, read 52,752 times
Reputation: 31
Google Texas Tax Code - Section 33.06
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