The State Controller’s Office administers the Property Tax Postponement Program which allows eligible homeowners to postpone current year tax payment of their primary residence. Applications are available NOW and the filing period is open from October 1, 2022 through February 10, 2023.
What are the eligibility requirements?
- Be at least 62 years of age, or blind, or disabled
- Own and occupy the property as your primary residence (floating homes—residences built on buoyant bases and house boats are not eligible)
- Have a total household income of $49,017 or less for 2021 calendar year
- Have at least 40% equity in the property; and
- NOT have a reverse mortgage on the property
What are the terms?
- Interest rate for all postponed taxes under the Program is 5% per year
- Interest is computed each month on a simple interest basis
- Interest accrues until the property taxes + interest are repaid to the State
How do I apply?
- Visit the State Controller’s website to download the application packet.
- Applications will be processed in the order received starting October 1, 2022
- Funding is limited and distributed on a first-come, first-served basis, with the filing period closing on February 10, 2023
- Not everyone who qualifies will be approved due to funding limitations
For more information, visit the State Controller’s Office.
Important note: A postponement of property taxes is a deferment of current-year property taxes and MUST eventually be repaid. Taxes postponed are secured by a lien on the property. It is important for seniors to assess their financial statuses and determine if the Program is a good fit.