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News & Press: Sacramento Report

Property Tax Postponement Available but Funding Limited

Tuesday, October 16, 2018  
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State Controller Betty T. Yee announced last month that applications for property tax deferment for the 2018-19 tax year were available, but that funding for PTP is limited, and applications will be processed in the order they are received beginning October 1.

California’s Property Tax Postponement (PTP) Program, administered by Controller Yee, allows homeowners who are seniors, are blind, or have a disability and who meet income, equity, and other requirements to postpone payment of property taxes on their primary residence.

The PTP Program returned in 2016 after being suspended by the legislature for seven years due to lack of funding in the wake of the Great Recession. In the 2017-2018 tax year, California homeowners were able to postpone close to $2.9 million in residential property taxes. Participants must reapply each year and demonstrate they continue to meet eligibility requirements. Under the program, a lien is placed on the property until the postponed taxes are paid.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851