This week, the Legislative Analyst’s Office (LAO) released a report titled “Evaluation of the Property Tax Postponement Program.”  The report evaluates the Property Tax Postponement (PTP) Program in California, and provides data on groups most likely having difficulty paying property taxes, advantages and shortcomings of the current program, and policy alternatives for legislative consideration. 

California established the PTP Program to help low-income seniors and people who are blind or disabled afford to pay their property taxes and stay in their homes.  Under PTP, the state pays a participating homeowners’ current-year property taxes directly to the county on their behalf.  Similar to a loan, homeowners must eventually repay the state for these payments with interest.  Homeowners can defer these repayments indefinitely, but must repay the state when the property is inherited, sold, or refinanced.

RCRC was engaged and supported the legislative efforts to restore the program after it was eliminated due to budget concerns.  The LAO report can be accessed here.