Applications for the 2018-19 tax year are now available for the California Property Tax Postponement Program. The Property Tax Postponement Program allows eligible homeowners to postpone payment of current-year property taxes on their primary residence.
In order to qualify for the Program, you must meet all of the following requirements:
- 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.
You may only postpone payment of current-year property taxes. State law does not allow payment of delinquent and/or defaulted property taxes that are owed on the property that is being considered for postponement.
The interest rate for all taxes postponed under the Program is 7% per year. Interest accrues until all postponed property taxes plus interest are repaid to the State. Payment is secured by a lien against the property and repayment becomes due when the homeowner:
- Moves or sells the property;
- Transfers title;
- Defaults on a senior lien;
- Dies; or
- Obtains a reverse mortgage.
Funding for the Program is limited and distributed on a first-come, first-served basis. The filing period is from October 1, 2018 until February 10, 2019.
For more information, visit the State Controller’s Office website or call (800) 952-5661.