The Property Tax Postponement law allows eligible homeowners to postpone paying all or part of their property taxes. To be eligible for postponement, the homeowner must meet all of the following requirements: (1) be either 62 years of age or older, blind, or disabled; (2) own and occupy the home continually since December 31, 2007; (3) have a 2007 household income of $35,500 or less; and (4) have at least 20% equity interest in the home. The homeowner must complete an application each year they want to participate in the program. To secure repayment of the postponed taxes, the State records a lien against the home. The lien remains on the home until the account is paid in full. The postponed taxes plus accrued interest becomes due and payable when the homeowner either 1) dies and does not have a spouse, registered domestic partner, or other qualified individual who continues to reside in the home; 2) sells the home; 3) moves from the property; or 4) allows senior liens to become delinquent. The filing period for the current year taxes starts May 15, 2008 and ends December 10, 2008.

Additional information and claim forms regarding TAX POSTPONEMENT can be obtained at the California State Controller’s Office, www.sco.ca.gov or 800.952.5661.