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Old 04-22-2021, 04:10 PM
 
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I read somewhere that for those over 65, property taxes can be deferred. the Houston area is one of the places we are considering retiring to. My wife and I will be both 66 when we retire in 2023. Can somebody confirm this please?
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Old 04-22-2021, 04:55 PM
 
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If you live in Harris County, the first $229,000 of the appraised value is waived for the Harris county tax.
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Old 04-22-2021, 05:02 PM
 
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Quote:
Originally Posted by dohc9797 View Post
I read somewhere that for those over 65, property taxes can be deferred. the Houston area is one of the places we are considering retiring to. My wife and I will be both 66 when we retire in 2023. Can somebody confirm this please?
From HCAD https://hcad.org/hcad-help/texas-fir...or-homeowners/
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Old 04-24-2021, 04:41 PM
 
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It’s reduced per the amount stated above, not deferred. Actually two different economic situations, but with similar results.

I believe certain states do actually defer property taxes, I think Vermont is one such state.

The tax situation here is why many people chose to retire in other states. I have lost many friends to relocation at retirement due to this.

I know the tax situation is quite a bit easier in Florida. I am looking at that right now. Miami and Sarasota are two options I am exploring.
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Old 04-24-2021, 05:42 PM
 
15,403 posts, read 7,468,300 times
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Originally Posted by Yankeeinblack View Post
It’s reduced per the amount stated above, not deferred. Actually two different economic situations, but with similar results.

I believe certain states do actually defer property taxes, I think Vermont is one such state.

The tax situation here is why many people chose to retire in other states. I have lost many friends to relocation at retirement due to this.

I know the tax situation is quite a bit easier in Florida. I am looking at that right now. Miami and Sarasota are two options I am exploring.
Homeowners over 65 in Texas can defer property tax until sale of the property, which can occur before or after death. There is interest added on as well. The amount of taxes is calculated in the same manner as if it were not deferred.
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Old 04-25-2021, 09:38 AM
 
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Interesting, I thought the deferral was a Houston (Harris Co.) thing. It is certainly not promoted in my county.
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Old 04-25-2021, 01:10 PM
 
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I am outside Harris,in Fort Bend county,I have never heard of such,waive or deferral.
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Old 04-25-2021, 01:41 PM
 
Location: Houston TX
2,441 posts, read 2,521,447 times
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Originally Posted by Samiamj View Post
If you live in Harris County, the first $229,000 of the appraised value is waived for the Harris county tax.
229K seems pretty huge to me. If you live in 229K house that means zero tax, right? Not bad at all!

Someone recently said in another thread that his 65+ exemption is a joke and did not reduce much tax. Maybe he lives in 1M+ house?
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Old 04-25-2021, 02:21 PM
 
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Depends on the taxing agency. County taxes and IIRC, ISD taxes can be deferred or paid quarterly. The interest rate is 8%, which is pretty high if the deferral is for a long time.

And each taxing agency has different rules. In unincorporated Harris county most of us pay county, school and MUD or PUD taxes. We also have regional water authority fees and many subdivisions have homeowner fees that pay for street lights, mowing common areas. recreation facilities, yada yada.

If in an incorporated town, add in their taxes.

Each one of those entities has their own rules regarding exemptions and deferrals.
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