CA AB2231

Reactivates the Senior Citizens and Disabled Citizens Property Tax Postponement Law effective July 1, 2016, allowing eligible claimants to postpone property tax payments if household income does not exceed $35,500.

Changes filing deadlines from May 15 - December 10 to September 1 - April 10 of the fiscal year, and increases the required homeowner equity from 20% to 40% of property value for each claim.

Creates a new interest-bearing Senior Citizens and Disabled Citizens Property Tax Postponement Fund in the State Treasury, transfers repaid amounts directly to this fund instead of an impound account, and increases the Controller's allowable fee from $10 to $30.

Requires postponed taxes to be repaid if claimant refinances the dwelling, participates in a reverse mortgage program, or if property changes ownership; adds mandatory notification requirements for county assessors and tax collectors regarding liens and property status changes.

Includes postponement loan balances in minimum bids for tax-defaulted property sales and requires proportionate distribution of sale proceeds between the state and county when minimum bids are reduced.