Get TX Form 50-126 2017-2024

To obtain a tax deferral, an individual must file the tax deferral affidavit with the appraisal district of the county they reside in. Please refer to What is A Property Tax Deferral information sheet (PDF) to learn how a property tax deferral may affect you.

Unpaid property taxes will accrue interest at a rate of 8% per year during the deferral period. The deferral period ends on the date the homeowner that qualified for the tax deferral no longer owns or occupies the property as their residence homestead.

You must own your home. To qualify for a general or disabled homestead exemption you must own your home on January 1. If you are 65 years of age or older you need not own your home on January 1. You will qualify for the over 65 exemption as soon as you turn 65, own the home and live in it as your principal residence.

"The combination of compression and the $100,000 homestead exemption is a powerful one-two punch that will cut school property taxes for the average priced home by $1,250 to $1,450 every year on their homesteaded property."