Provisions of the General Property Tax Act, Public Act 206 of 1893, as amended, allows local tax collecting units to defer the collection of taxes for property owners who meet strict eligibility requirements set forth in the act. An owner may file a completed deferment of property tax form with his or her city or township treasurer by the designated deadline. A valid deferment permits property taxes to be paid at a later date, without any additional penalty and interest, as long as the new payment deadline is met.