TYLER, Texas — Texas homeowners may postpone paying the current property taxes on the appreciating value of their homes. Homeowners may take advantage of a payment option called “residence homestead tax deferral” by signing an affidavit at the Smith County Appraisal District office.
This special form of tax relief allows homeowners to pay the taxes on 105% of the preceding year’s appraised value of their homesteads, plus the taxes on any new improvements to the homesteads. The remaining taxes are deferred and accrue interest at an annual rate of 8%.
“The deferral postpones paying a portion of the taxes on the home. It does not cancel them,” said Carol Dixon, Chief Appraiser of the Smith County Appraisal District.
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