Assemblymember Nazarian Announces the Homeowner & Renters’ Rebate

(Sacramento, CA) Assemblymember Adrin Nazarian introduced AB 492, theHomeowner & Renters’ Assistance Program. AB 492 will provide a tax

rebate to financially struggling renters and homeowners across
California by reinstating and expanding the Homeowners and Renters
Property Tax Assistance Program to include all Californian homeowners
and renters who make under $30,000.

“We are facing a housing and homelessness crisis in California. The
Homeowner & Renters’ Assistance Program will help families stay in
their homes,” stated Assemblymember Adrin Nazarian.

For years the State of California has been facing a housing
affordability crisis and it is driving more Californians into poverty
and homelessness. According to the California Budget and Policy Center,
more than half of renter households in our state pay more than 30% of
their incomes toward housing, making them housing cost-burdened, and
nearly a third are severely cost-burdened, paying more than 50% of their
incomes toward housing.

Additionally, as median household rents increased by 13.2% from 2006
to 2016, median annual earnings for full time workers only grew 4.1%
during the same period. When this program was operating, it provided
much needed help to some of the most vulnerable populations in
California. This was especially true for renters, who made up to 77% of
claimants in 2006.

Using U.S. Census data, it is estimated that approximately 3.1
million households had total earnings at or below $30,000 in calendar
year 2016 in California. By reinstating and expanding access to the
Homeowner & Renters’ Property Tax Assistance Program, the State of
California can take another critical step to further mitigate the
current housing affordability crisis.

“Struggling homeowners and renters earning less than $30,000 are
already making tough decisions on whether to pay rent or buy groceries,”
stated Assemblymember Nazarian. “A rebate around $400 will help ease
the financial burden of families trying to stay in their homes.”

Governor Schwarzenegger defunded the program in the 2008 budget with a
line item veto. AB 492 will reinstate and expand the program to anyone
making under $30,000, pay $50 or more rent per month or own and live in
their own home.

Larry Gross, Executive Director of The Coalition for Economic
Survival applauded Assemblymember Adrin Nazarian effort to take a step
towards bringing some degree of tax equality to Californian renters.

Gross stated, “Hopefully this will be the first action towards
leveling the playing field for renters and providing them with
meaningful and greatly needed tax relief.”

Background on the Original Homeowner & Renters’ Assistance Program

The Homeowner & Renters’ Property Tax Assistance Program was
initiated in 1968 to benefit senior homeowners by providing a partial
reimbursement of property taxes paid for their principal residence in
the prior year. The California Legislature later made periodic program
changes that extended assistance to low-income homeowners and renters 62
years and older and disabled homeowners and renters, irrespective of
age.

The program provided a once-a-year payment from the State of
California based on income levels and property taxes paid by homeowners
and indirectly paid by renters to qualified individuals who applied for
the program.

Assistance amounts ranged from 4% to 96% of the maximum allowable
reimbursement. For the 2006 tax year, approximately 580,000 assistance
checks were processed for a total of $177 million, and the maximum
payment for homeowners was $472.50 and was $347.50 for renters.

Adrin Nazarian represents the 46th Assembly District, serving the
San Fernando Valley communities of Hollywood Hills, Lake Balboa, North
Hills, North Hollywood, Panorama City, Sherman Oaks, Studio City, Toluca
Lake, Valley Glen, Universal City, Van Nuys, and Valley Village.