Do you or a loved one need help keeping up with residential property tax payments?
The Property Tax Postponement Program (PTP) allows homeowners who are seniors, are blind, or have a disability to defer current-year property taxes on their principal residence if they meet certain criteria including 40 percent equity in the home and an annual household income of $35,500 or less.
To be eligible for PTP, you must:
The interest rate for taxes postponed under PTP is 7 percent per year. Funding for the program is limited, and applications will be processed on a first-come, first-served basis. Only current-year property taxes are eligible for postponement.
Applications for 2017-18 will be available in September 2017.
For more information on this program, please visit the State Controller's Office [1].
Links
[1] http://www.sco.ca.gov/ardtax_prop_tax_postponement.html