This is a press release from the County of Humboldt:
The Humboldt County Treasurer-Tax Collector is pleased to announce that the State Controller’s Property Tax Postponement Program has returned after being suspended by the State Legislature in 2009. The program allows homeowners who are 62 or older, blind, or have a disability, to defer current-year property taxes on their principal residence if they meet certain criteria including 40 percent equity in the home and an annual household income of $35,500 or less. Applications became available September 1, 2016 and can be found online at http://www.sco.ca.gov/ardtax_prop_tax_postponement.html The State Controller’s Office accepts applications beginning October 1, through February 10, each year. Funds are limited and applications will be approved on a first come, first serve basis. The interest rate for taxes postponed is 7% per year as compared to 18% per year for delinquent taxes. Repayment under this program becomes due when the homeowner: • Moves or sells the property; • Transfers title; • Defaults on a Senior lien; • Refinances; Dies; or • Chooses to obtain a reverse mortgage. For more detailed program information, contact the Tax-Collector’s office at 707-476-2450 or email [email protected], or the State Controller’s Office toll-free at (800) 952-5661 or email [email protected].
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Humboldt County Treasurer-Tax Collector should be pleased. 7% annual return secured by real property. Sweet deal for the tax collector not so sweet for those that truly need the break.
Some people who can’t pay their property tax, and don’t want to sell, and relocate, and don’t care that it is nibbling away at the principle might consider this to be a good deal. Living on fixed income can be a tight budget.
Sure is a good deal….. stealing from folks that worked their whole lives for a place to live only to watch the goverment take it away at 7 percent. And they wonder why this generation isnt buying into the whole buy a house maintain it be suck living in the same place while payong rent to the state county city . At least when you rent you dont have to worry about water heaters frozen pipes roofs paint flooring etc. And you can pack up and move on a whim just give your notice or finish out your lease, doesnt matter if the market is up or down.
Seniors used to get a 10% reduction of their tax bill. Whatever happened to that?
Oh sorry, didn’t mean to advocate for people who are old & on fixed incomes….