9100 Tax Relief
7510 - SENIOR CITIZENS' PROPERTY TAX POSTPONEMENT LOAN REPAYMENTS
The Senior Citizens' Property Tax Postponement Program allows eligible homeowners to defer payment of residential property tax. The state pays the deferred taxes to local governments on behalf of the participants, and places a lien on their property to assure repayment when the property is sold or transferred. The Senior Citizens' Property Tax Postponement Loan Repayments Program captures repayments from individuals that participated in the Senior Citizens' Property Tax Postponement Program and transfers to the General Fund the amount in excess of what is required to fund the Postponement Program claims. The Program was suspended in 2009 and was reestablished via legislation in 2014 (Chapter 703, Statutes of 2014).