Friday, December 28, 2018

California Property Tax Postponement Program

Do you or a loved one need help keeping up with residential property tax payments?
The Property Tax Postponement Program allows eligible homeowners to postpone payment of property taxes on a primary residence.

To be eligible for PTP, you must:
  • Be at least age 62, or blind, or have a disability;
  • Own and occupy the home as your primary place of residence;
  • Have a total household income of $35,500 or less;
  • Have at least 40 percent equity in the property; and
  • Other requirements.
The interest rate for taxes postponed under PTP is 7 percent per year. A lien will be placed on the property until the account is paid in full. Funding for the program is limited. Applications will be accepted from October 1 to February 10 each year, and will be processed in the order received. Only current-year property taxes are eligible for postponement.

Repayment under the PTP Program becomes due when the homeowner:
  • Moves or sells the property;
  • Transfers title;
  • Defaults on a senior lien;
  • Refinances;
  • Dies; or
  • Obtains a reverse mortgage.
More details are available on the State Controller’s website.
https://www.sco.ca.gov/ardtax_prop_tax_postponement.html

APPLICATION PACKET
Download and print:
https://www.sco.ca.gov/Files-ARD-Tax-Info/2018 19%20PTP%20Application%20and%20Instructions.pdf

The filing period for the 2018-19 tax year is October 1, 2018 to February 10, 2019. Please call (800) 952-5661 or email postponement@sco.ca.gov if you prefer to have an application mailed to you.

Questions? Contact the Controller’s team at
(800) 952-5661 or postponement@sco.ca.gov

California State Controller Betty T. Yee

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