The Good Life - Travel, Leisure & Fun for South Valley Adults

The Property Tax Postponement Program

Veterans Corner

 

Last updated 11/1/2020 at 11:56am | View PDF



In this column, I would like to pass on information that is not limited to just veterans. It is my hope that this information will assist others who might qualify as well.

With all the uncertainty today, everyone knows someone who is trying to make ends meet. The challenge is often greatest for retirees on a fixed income and people with disabilities that prevent them from working. California offers property tax deferment for some of these vulnerable homeowners.

State Controller Betty T. Vee administers the Property Tax Postponement (PTP) Program that enables many homeowners who are seniors, are blind or have a disability to defer payment of residential property taxes. Applicants must meet certain income, equity, and other requirements. If approved for the program, a lien will be placed on the property. These deferred taxes accrue simple interest at a rate of 5% a year and become due if the homeowner moves or sells the property, transfers title, refinances, dies, obtains a reverse mortgage or defaults on a senior lien. For manufactured homes, a security agreement will be filed with the Department of Housing and Community Development. A lien or security agreement remains in effect until the account is paid in full.

PTP participants must reapply each year to demonstrate they continue to meet eligibility requirements. The application filing period for the 2020–21 tax year runs October 1, 2020, through February 10, 2021. Funds are limited and will be disbursed on a first-come, first-served basis. Last year alone, California homeowners were able to postpone $4 million in tax payments with the assistance of the state's PTP program.

If you or someone you know could benefit from the PTP program, visit http://www.ptp.sco.ca.gov for more details and an application. Call (800) 952-5661, or email postponement@sco.ca.gov for more information.

Ken Cruickshank, the Veterans Services Officer for Tulare County, is a retired Navy Master Chief Petty Officer. Contact him at the Veterans Services Office at 3348 W. Mineral King Ave., Visalia; by phone at (559) 713-2880; or by email at KCruicks@tularehhsa.org.

 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020