Ignite FB Tracking PixelWhat you should know about property tax deferment - Georgina Patterson
Keller Williams Realty Petaluma, DRE #02104684
Georgina Patterson, Keller Williams Realty Petaluma, DRE #02104684Phone: (415) 342-6794
Email: [email protected]

What you should know about property tax deferment

by Georgina Patterson 07/08/2024

In real estate, a property tax deferment means a temporary delay in property tax payments for qualifying properties and homeowners. While there are other types of tax deferral options, property taxes come with their own set of rules and special terminology. Here are some key things to consider about property tax deferments:

How it works

Deferring your property taxes means putting off regular payments. While you don't have to pay your property taxes, a tax lien will be placed on the property and the unpaid amount will continue to gain interest. When the deferment period ends, the owed amount must be paid in full for the lien on the property to be removed.

How you qualify

Seniors and people with disabilities can often qualify for a property tax deferment from their local governments. As long as the qualified homeowner is using a property as a primary residence, they can defer taxes either until the end of their life or the sale of the property. Each state has different rules, so it's important to investigate what your individual opportunities might be for tax deferment.

Why it matters

Property taxes are a major expense for homeowners of any age, but can become a burden for those without regular income, either due to retirement or disability. Therefore, it can be beneficial to defer property taxes and lower regular expenses to preserve savings and income.

While the taxes must eventually be paid for the lien on the property to be removed, deferment can save qualified homeowners thousands of dollars. If you're interested in learning more about how tax deferment might apply to you, consider reaching out to a financial consultant or tax professional.

About the Author

Georgina Patterson

Georgina was born and raised in Paris, France. She studied Mathematics and Biology at the University of Paris. She settled in Marin County where she and her husband raised their two children. She was on tour with Cirque du Soleil, managing and chaperoning her young daughter who was one of the show's featured performers. During this time, they worked and traveled throughout Canada and the USA. Georgina appreciates the beauty of the Bay Area and Sonoma. She especially enjoys the nice weather, diversity, and culture. She became a tax preparer and an Enrolled Agent. She decided to become a Realtor® and is pleased to join Keller Williams Realty. For fun, she enjoys traveling and playing the Piano. 


DRE #02104684


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