The California State Board of Equalization (BOE) has issued a letter concerning the law that reinstated the State Controller’s Property Tax Postponement Program, under which the Controller can pay property taxes to county tax collectors on behalf of qualifying individuals who are over the age of 62 or disabled. Under the program, a claimant must have an annual income of $35,500 or less and at least 40% equity in his or her home. The BOE generally discusses:
requirements for county assessors who receive from the Controller a notice of lien for postponed property taxes;
assessors’ notice requirement to the Controller when property with a postponement lien changes ownership or a claimant transfers ownership, changes his or her mailing address, or dies; and
the Controller’s duty to record a release of the lien when the amount of the obligation secured by that lien is paid in full or otherwise discharged.
Applications may be filed with the Controller beginning September 1, 2016. If you or your client want more information about this exciting new program, contact a property tax attorney who can assist you. The Wilson Tax Law Group specializes in property tax and income tax matters. Joseph P. Wilson of the Wilson Tax Law Group can be reached at 714-463-4430 if you have any questions.