Q: If I can’t pay my property taxes, is there any help for me?
A: If you’ve received a property tax bill that you cannot afford to pay, you may be able to benefit from the Property Tax Postponement (PTP) Program run by the State Controller’s Office.
The PTP Program allows eligible homeowners to postpone payment of current-year property taxes on their primary residence. It’s essentially a loan, secured by a lien against the property. The interest rate is 5 percent per year, computed monthly on a simple interest basis. As an example, on a postponement of $1,000 in taxes, the interest would be $50 per year, or $4.17 per month. Interest continues to accrue until all the postponed property taxes plus interest are repaid to the state.
The homeowner may repay all or part of the balance at any time. The full amount including interest becomes due and payable when the homeowner does any of the following:
- Moves from the property;
- Sells or conveys title to the property;
- Dies and does not have a spouse, registered domestic partner, or other qualified individual who continues to reside in the property;
- Allows future property taxes or other senior liens to become delinquent; or
- Refinances or obtains a reverse mortgage for the property.
Delinquent taxes from previous years may not be postponed. The program applies only to current-year property taxes.
To be eligible for the PTP Program, a homeowner must meet these requirements for every year in which a postponement of property taxes is desired:
- Be at least 62 years of age, or blind, or disabled;
- Own and occupy the property as his or her principal place of residence (floating homes and house boats are not eligible);
- Have a total household income of $53,574 or less;
- Have at least 40 percent equity in the property; and
- Not have a reverse mortgage on the property.
Funding for the program is limited and distributed on a first-come, first-served basis. The application period opens on October 1, 2024, and runs through February 10, 2025. Applications are available now from the State Controller’s Office.
To get more information about the
Property Tax Postponement Program,
call 800-952-5661 or email
postponement@sco.ca.gov.