Limited Income Deferral Program The Limited Income Deferral Program (chapter 84.37 RCW) has these requirments: Required payment of the first half taxes by the taxpayer 50 percent deferral – 2nd installment of property tax bill Application deadline of September 1 each year $57,000 limit on disposable income 5-year ownership requirement 40 percent equity limit 7 percent interest rate for 2008 deferral amounts Refunds of duplicate payments Participation in both deferral programs Refer to this document for more information Property Tax Deferral for Homeowners with Limited Income. Please visit Department of Revenue website to download the form. Updated: April 28, 2008 King County | Department of Assessments | News Services | Comments | Search Links to external sites do not constitute endorsements by King County. By visiting this and other King County web pages, you expressly agree to be bound by terms and conditions of the site. The details.