Today's Law As Amended

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AB-2691 Property taxation: Monthly Property Tax Payment Program.(2015-2016)


 Section 2607.5 is added to the Revenue and Taxation Code, to read:

 (a) Notwithstanding any other law, a county board of supervisors may adopt a resolution or ordinance to implement a Monthly Property Tax Payment Program, to authorize qualified taxpayers to pay the property tax owed on the qualified taxpayer’s principal place of residence in monthly installments.
(b) The ordinance or resolution implementing the program may set forth specific procedures for the tax collector to deem as timely monthly installments paid late but within a specified grace period due to reasonable cause for purposes of determining delinquency and default.
(c) The monthly property tax payment shall be allocated among the county, cities, special districts, and school entities in proportion to the amounts of ad valorem property tax revenue otherwise allocated among these entities.
(d) For purposes of this section, both of the following shall apply:
(1) “Qualified taxpayer” means a taxpayer who is either or both of the following:
(A) A person who is 62 years of age or older.
(B) A person receiving supplemental security income for a disability, regardless of age.
(2) “School entities” has the same meaning as that term is defined in subdivision (f) of Section 95.
(e) This section shall not apply to property for which an escrow account, as defined in Section 1024.17 of Title 12 of the Code of Federal Regulations, is established.