Can seniors defer property taxes in California, Texas, Florida, or Colorado?

How does property tax deferral work?

The state (or county) lets you stop paying some or all of your property taxes now. The unpaid taxes, plus interest, become a lien on your home and are repaid when you sell, move out, or pass away. It isn't a tax break; it's a low-cost way to delay the bill.

What does each state offer?

State	Who qualifies	Interest	How to apply
California (Property Tax Postponement)	62+, blind, or disabled; at least 40% equity; household income of $57,002 or less (2026-27); no reverse mortgage on the home	5% simple interest a year	State Controller's Office, Oct. 1 to Feb. 10; reapply every year; funding is limited
Texas (tax deferral)	65+ or disabled, with a homestead exemption	5% a year	Form 50-126 with your county appraisal district, any time
Florida (homestead tax deferral)	Homestead owners; at 65+ you can defer taxes above 3% of household income, or all of them below the income limit	Set by the state each year	Form DR-570 with your county tax collector by March 31
Colorado (Property Tax Deferral Program)	65+ (and some active military) with enough equity	A low rate set each year	Your county treasurer by April 1; reapply every year

Program rules and limits change, so check the current year's details with your state or county.

What should I watch out for?

• If you have a mortgage, check with your lender first. Most mortgages require property taxes to stay current, and many lenders pay them from your escrow account.
• A reverse mortgage requires you to pay property taxes, and California's program isn't available if you have one. Choose one approach, not both.
• Interest adds up and reduces what's left for your heirs.
• Missing a deadline can mean waiting a year.

Is deferral better than a reverse mortgage?

If property taxes are your only problem, deferral is often the cheaper fix. If you also need money for repairs, care, or everyday bills, or want to remove a mortgage payment, a reverse mortgage or another option may do more. See alternatives to a reverse mortgage.

Example scenario (illustrative)

A 76-year-old homeowner in Pueblo, Colorado, has a paid-off home and a tight budget. Property taxes are the only bill she can't manage. She applies to Colorado's deferral program by April 1 and keeps her savings intact. A reverse mortgage wasn't needed, and that's a good outcome.

Our take

I'll always tell you about these programs, even though they don't involve a loan from us. If deferring your taxes solves the problem, that's the right answer. If you need more than that, we'll look at the rest of your options together.