Property Tax Postponement. Disabled Person

PROPERTY TAX POSTPONEMENT. DISABLED PERSON. LEGISLATIVE CONSTITUTIONAL AMENDMENT. Under the present provisions of the Constitution, the Legislature may provide for a person of low or moderate income who is 62 years of age or older to postpone payment of ad valorem property taxes on a dwelling owned and occupied by the person as a principal place of residence. This measure allows the Legislature to also provide for a disabled person to postpone payment of ad valorem property taxes on a dwelling owned and occupied by the person as a principal place of residence. Summary of Legislative Analyst\u27s estimate of net state and local government fiscal impact: By itself, this measure would have no direct effect on state expenditures or revenues as it only authorizes the Legislature to extend eligibility for the property tax postponement program. If the Legislature enacts implementing legislation, there would be an increase in state expenditures to compensate local agencies for the amount of the property taxes deferred, estimated to be less than 82 million annually. The state would recover these costs, with interest, when the homes are sold