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Property Tax Relief Is in Store – For Some
Some homeowners and small businesses impacted by the COVID-19 pandemic will receive a highly anticipated property tax relief that delays deadlines and waives penalties until next year. The relief offer by Executive Order N-61-20, issued by California Governor Gavin Newsom on May 6th, is only available when specific conditions are met, including the Small Business Administration’s qualification of “small business” – meaning that even if a business obtained a Paycheck Protection Program loan, it may not be eligible for property tax penalty relief.
In a recent article, CGS3 partner and tax expert Phil Jelsma lays out the conditions that must be met for penalty relief, how taxpayers can apply for the new extensions, and which policies still remain unclear.
Read the full article from the Daily Journal here or from the Daily Transcript here (subscription required).