California Gov. Gavin Newsom said Wednesday he has signed an executive order to waive the 10 percent penalty on late residential and small business property tax payments for those unable to pay on time due to the coronavirus emergency.
Property taxes are paid twice a year. The second payment was supposed to be paid no later than April 10.
Newsom had previously cast doubt on whether any relief would be provided, but said his administration had worked with county representatives and the California Board of Equalization to come up with a plan.
People like me will take great advantage to delay payments. Soon the housing crash is coming and property taxes will drop all around. Maybe I should come up with some kind of 'This time is different' scam, like Rogoff and his 3% Fed tax.
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