FAQ About Property Taxes Amid COVID-19

April 10, 2020

The coronavirus has extended the April 15th deadline for income taxes; however, the extension does not apply to property taxes in most states, including California. Review these frequently asked questions about property taxes and COVID-19 if you own property in Los Angeles County or anywhere else in the Golden State. And remember, your Encino tax consultants are here to help you prepare and file. 

What If I Cannot Pay My Property Taxes By The April 15th Deadline? 

The state encourages property owners to make tax payments by the deadline to keep the government operational and able to provide essential services. However, if you cannot pay your property taxes in full by April 11th, pay what you can. Both the federal and state government accept partial payments and provide payment plan options to those who cannot pay full amounts immediately. 

Will Penalty Fees Be Waived To Those Who Need Extensions? 

Yes. Simply submit a fee waiver request the day after your property taxes become “delinquent” if you live in Los Angeles County, or April 12th. The county’s site allows penalty fee cancellations since the coronavirus has resulted in economic hardships for many. Fees associated with credit and debit card payments, and those made over the phone will not be waived. 

Can I Expect Reduced Property Tax Amounts In Light Of COVID-19? 

Unfortunately, no. Tax amounts for property owners are created on January 1st, or the lien date of each tax year. Payment plans provide the solution you need if you cannot pay your property taxes in full on time. An accountant service in Los Angeles will help you manage your finances if full payments are not currently possible. 

What If I’m Expecting A Property Tax Refund–Will It Be Delayed Because Of The Virus? 

While property tax refunds typically get issued 60 days after payments are accepted, the coronavirus has slowed many government processes. It is wise to expect a delay this year and plan accordingly, which your Encino tax consultants can again help you with. 

Discuss your property tax needs with Wallace & Associates, your Los Angeles accounting firm, today to avoid extra fees and penalties.