Property Tax Deferral for Senior Citizens

To qualify, all of these must be true:

• You are 65 or older in the year you apply. If married, one of you is 65 or older and the other is at least 62.
• Your household income is $96,000 or less.
• You have owned and lived in your home for the last 5 years.
• Your home has been homesteaded for 5 years.
• You do not have a reverse mortgage, a life estate, any state or federal tax liens, or judgment liens on your property.
• Other liens against your property are less than 75% of the estimated market value.

The property tax you pay will be 3% of your total household income based on your prior year income. The state pays the remainder as a loan.

When you sell your home or voluntarily cancel the deferral, you must repay the loan plus interest. The interest rate varies but does not exceed 5%.

We will apply certain refunds and payments you are due to your loan.

See answers to frequently asked questions about Property Tax Deferral for Senior Citizens.