Only taxpayers with an over-65 or Disabled Person Exemption may pay current taxes on their homestead residence in four installments without penalty or interest; however, the taxpayer must request the quarterly payments in writing and must pay at least:
- 1/4 by January 31st
- 1/4 by March 31st
- 1/4 by May 31st
- 1/4 by July 31st
If an installment is missed, the 6% penalty is imposed and interest begins to accrue.
Waives & Deferrals
The Tax Assessor-Collector is restricted from waiving or deferring penalty and interest on a delinquent property tax
Penalty and interest fees resulting from failure to timely pay a property tax are statutory.
Governing Body Authorization
Only the governing body for the taxing unit(s) that imposes a tax on a property may authorize the waiver of a penalty and interest under specific criteria.
Failure to send or receive the tax bill does not affect the validity of the:
- Any procedure instituted to collect a tax
- Due date
- Existence of tax lien
(section 31.01(g), Texas Property Tax Code).
Penalty and Interest may only be waived on a delinquent tax under specific circumstances. The Texas Property Tax Code is very strict pertaining to the waiver of penalty and interest. (section 33.011, Texas Property Tax Code).
Payment must be made; including penalty and interest, within 21 days from the date the taxpayer knew or should have known taxes are due. (section 31.011 (d)(g), Texas Property Tax Code).