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MONEY SAVVY

Only 1 in 5 in State Has Sought Housing Rebate

July 29, 1999|LIZ PULLIAM

Only about one in five eligible Californians has applied for a homeowner and renter rebate that could save them up to $326, and the application deadline is looming.

According to state tax officials, more than 1 million lower-income elderly and disabled people are eligible for the payments through the Homeowner and Renter Assistance Program, but so far fewer than 210,000 have applied. The deadline for applications is Aug. 31, the Franchise Tax Board said.

To qualify, California residents must be at least 62 years old or be blind or totally disabled as of Dec. 31, 1998. Total household income for 1998 must have been $33,132 or less.

Homeowners can receive a payment equal to 4% to 96% of the property tax they paid on the first $34,000 assessed value of their home, up to $326.40. Renters can receive assistance ranging from $10 to $240.

For more information about the program, call the FTB at (800) 852-5711 or check the Internet at http://www.ftb.ca.gov.

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