Property taxes have become one of the fastest-growing expenses for many California homeowners. While Proposition 13 has helped limit annual assessment increases, rising home values and the overall cost of living continue to strain retirement budgets. As a result, more seniors are revisiting a little-known state program that allows eligible homeowners to postpone their property tax payments rather than pay them immediately. The California Property Tax Postponement Program, administered by the California State Controller’s Office, can provide valuable cash-flow relief for qualifying residents age 62 and older. This summer, with housing costs still elevated and many retirees living on fixed incomes, interest in the program appears to be growing.
