Property Tax Postponement Program April 19, 2016 State Controllers - - PowerPoint PPT Presentation

Property Tax Postponement Program

April 19, 2016

State Controller’s Office Natalie Sidarous, Chief

Bureau of Tax Administration

Overview

• Highlights of changes to the program
• New payment method
• Tax bills – what PTP can cover
• Legislation
• Outreach & contacts
• Q & A

Program Change Highlights

• Changes to eligibility requirements – 40%

equity, income, no mobile/floating homes

• r house boats
• Limited funding, applications approved on

first come, first served basis

• Amounts collected must support costs of

administration as well as loan amounts

Program Change Highlights,

continued

• Amount due on PTP loan must now be

included in the minimum bid at tax sale

• Simple interest rate now set at 7%
• Begin accepting applications October 1,

2016

• Application filing period is October 1-

February 10 of each year

New Payment Method

• New loans will be paid via electronic

funds transfer (EFT) directly to county

• SCO hopes to make 6-8 payments per

FY, during and shortly following the filing period

• Timing/frequency may depend on

funding availability

Tax Bills

What will the PTP loan amount include?

• All ad valorem property taxes for the current

fiscal year

• Fixed Charges and Special Assessments

(Possible exception of PACE loans)

• Escape Assessments charged in the current

fiscal year

• Corrected or supplemental tax bills on case-by-

case basis, if submitted within the filing period

Tax Bills, continued

What the PTP loan amount will not include:

• Delinquent penalties, costs, fees, and

interest accrued in the current fiscal year. (RTC 20645.5)

(Counties are required to waive if application filed timely)

• Defaulted taxes (RTC 20584)
• Most likely, the loan amount will not

include PACE Loans

Legislation

AB 1952 (Gordon) includes:

• An option to allow the Controller to

request additional funds when needed

• Minor technical cleanup and conforming

changes

• Will require SCO to provide copy of

Notice of Lien to the Tax Collector and Assessor

Legislation, continued

• Modifies the existing requirement that

Tax Collectors and Assessors maintain a record of PTP accounts, states this should be done in a manner they determine appropriate so they can notify the SCO of collection triggers

Outreach

• FAQs – updated as information becomes

available

• Public contact Information: 800-952-5661
• r postponement@sco.ca.gov
• Flyer – on SCO website, emailed to all
• counties. Available in English & Spanish

Outreach, continued

• Contacted all TTCs, Assessors, and

Recorders to get identify a PTP contact

• Will provide counties application packets

when available, and offer training

• Collecting a mailing list of requests for

applications from potential applicants

• Will work with a number of advocacy
• rganizations, newsletters, events, etc

Contacts

Natalie Sidarous, Chief Bureau of Tax Administration & Government Compensation 916-322-7453 nsidarous@sco.ca.gov Charlene Castañeda, Specialist Property Tax Postponement Section 916-322-7331 ccastaneda@sco.ca.gov Lindsey Ross, Manager Property Tax Postponement Section 916-322-3881 lross@sco.ca.gov