Riverside County Creates Property Tax Postponement Program
The economic downturn resulting from the ongoing coronavirus pandemic has created a burden for many taxpayers in Riverside County. Limited options to postpone property taxes are available for some residents under California State law through a property tax postponement program.
This state program allows homeowners who are seniors (62 years of age or older), or taxpayers who have a disability, to defer current-year property taxes on their principal residence. There are several requirements for participation in the program, including at least 40 percent equity in the home and an annual household income of $45,000 or less.
“This pandemic has caused significant economic hardships for so many of our residents,” said Riverside County Treasurer-Tax Collector Matt Jennings. “Some of our most vulnerable residents, seniors and disabled homeowners on limited incomes, may be eligible for this state program to postpone their taxes.”
The deadline to apply for the state Postponement Program is February 10.
Applications and program details can be found online at the State Controller’s website by clicking here or by calling (800) 952-5661.
This isn’t the first time property owners have caught a break. In May 2020, California Gov. Gavin Newsom signed an executive order to waive the 10 percent penalty on late residential and small business property tax payments for those unable to pay on time due to the coronavirus emergency.
Property taxes are paid twice a year. The second payment was supposed to be paid no later than April 10.
- Property tax: Shutterstock