Property Tax Deferral is high-cost option
This column first appeared in the San Antonio Express News on June 22, 2018. Dear Mr. Premack: I am trying to fully understand deferral of local property taxes. I understand pretty much all of it except the interest rate. I am over 65 and own my principal residence free and clear. The information I have from the state Comptroller’s site says, “annual 5% interest rate.” Is that correct? If my taxes are $5000 per year and I defer them for three years, what will I owe? Are there