02/23/2021 | Press release | Distributed by Public on 02/23/2021 15:07
SACRAMENTO-State Controller Betty T. Yee today reminded California homeowners recently affected by wildfires that they have more time to apply for the Property Tax Postponement (PTP) program.
Administered by the State Controller's Office, PTP allows homeowners who are seniors, are blind, or have a disability and who meet income, equity, and other requirements to delay payment of property taxes on their primary residence.
Residents of these 31 counties in governor-declared disaster areas now have a deadline of June 1 to apply for 2020-21 PTP: Butte, Del Norte, Fresno, Glenn, Humboldt, Lake, Lassen, Los Angeles, Madera, Mariposa, Mendocino, Monterey, Napa, Nevada, Plumas, San Bernardino, San Diego, San Mateo, Santa Clara, Santa Cruz, Sierra, Siskyou, Solano, Sonoma, Stanislaus, Tehama, Trinity, Tulare, Tuolumne, Yolo, and Yuba.
In the 2019-20 tax year, California homeowners postponed more than $4 million in residential property taxes through PTP. As of February 10, more than $3.6 million had been paid out for tax year 2020-21.
Funding for the program is limited, and applications are processed in the order they are received. Participants must reapply each year and demonstrate they continue to meet eligibility requirements. The interest rate for all taxes postponed under PTP this tax year is five percent. A lien is placed on the real property, or a security agreement filed for a manufactured home, until the deferred taxes are repaid.
Applications for the 2021-22 tax year will be available in September. Applications and program details can be found online or by calling (800) 952-5661.
As the chief fiscal officer of California, Controller Yee is responsible for accountability and disbursement of the state's financial resources. The Controller has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation's two largest public pension funds. Elected in 2014 and reelected in 2018, Controller Yee is the tenth woman elected to a statewide office in California's history. Follow the Controller on Twitter at @CAController and on Facebook at California State Controller's Office.