Property taxation: Monthly Property Tax Payment Program.

Existing property tax law specifies that all taxes on personal property and half of the taxes on real property are due and payable each November 1 and provides that these taxes are delinquent if not paid by each December 10. Existing property tax law specifies that the second half of taxes on real property is due each February 1 and provides that these taxes are delinquent if not paid by each April 10. This bill would authorize a county board of supervisors to implement a Monthly Property Tax Payment Program to authorize qualified taxpayers, as defined, to pay the property tax owed on the qualified taxpayer's principal place of residence in monthly installments. The bill would authorize the ordinance or resolution implementing the program to set forth specific procedures for purposes of determining delinquency and default, as specified. The bill would require the monthly property tax payment to 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. The bill would exclude from its provisions property for which an escrow account is established, as provided.