Texas House bill would limit foreclosure due to delinquent taxes

State law allows seniors and veterans living on fixed incomes to defer their property taxes until they leave the property or pass away. The tax bills continue to accrue annual interest. Local taxing units may enter into agreements with property owners providing for the abatement of property taxes, provided that the property owner makes specified improvements or repairs to the property. 

Homeowners have a contract agreement with their lender to pay their property taxes when due and to keep the property free and clean of any liens.

Johnson told the committee that she is working with representatives of financial institutions to address their concerns with the bill and may be offering an amendment at a later time. The bill was left pending.

Contact Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop for more information.