Definition
Property tax relief allowing deferral of current-year taxes to be paid from estate proceeds when property is sold or estate settled.
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Tax deferral helps seniors afford housing while living. Deferred taxes create lien on property. Lien is paid when property sells. Deferral makes affordable aging in place. Deferral programs are critical for low-income seniors.
Pro Tip
Senior property tax deferral programs enable aging in place; understand lien implications.
Example
Tax deferral program allowing senior to defer current taxes creating lien.