Do you or someone you know need help keeping up with residential property tax payments? The State of CA Property Tax Postponement Program (PTP) allows eligible homeowners to postpone payment of property taxes on a primary residence. You must meet specific age, income, home equity percentages, and other requirements to be eligible for PTP.
Applications are accepted from October 1 to February 10 and will be processed in the order received. Only current-year property taxes are eligible for postponement.
The interest rate for taxes postponed under the 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. Repayment under the PTP becomes due when the homeowner moves, sells the property, transfers title, defaults on a senior lien, becomes deceased, or obtains a reverse mortgage.
More details are available at: www.sco.ca.gov. Click on “Public Services”, then on “Property Tax Postponement”. Questions? Contact the State Controller’s Office at: (800) 952-5661 or email@example.com. PTP flyers and applications are also available at the Placer County Tax Collector’s Office, 2976 Richardson Drive, Auburn.