Property Tax Assistance for Seniors and Disabled
By: State: California | Source: aarp.org
For many seniors and disabled homeowners with low or fixed incomes, paying property taxes is a tremendous financial hardship. Too often, homeowners are faced with either selling their homes or losing them by defaulting on their property taxes.
Since 1977, the State Controller's Office has offered the Property Tax Postponement program to provide thousands of senior and disabled homeowners with low-interest loans that allow them to defer paying their property taxes. In the past 10 years alone, we've deferred more than $150 million in property taxes, giving eligible homeowners more money in their pockets to take care of other needs, whether it's mortgage payments, medical bills or groceries.
To qualify for the program, homeowners must have lived in the home since December 31, 2007; have at least 20% equity in the home; and have a household income of less than $35,500. Better yet, the loans do not have to be repaid until the homeowner moves, the home is sold, or the homeowner dies and title is passed to an ineligible person.
Applications for the program will be accepted through December 10, 2008. If you or someone you know might benefit from this program, please call 800-952-5661, or 916-327-5587, or visit the Web site.
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