The Teeter Plan (first enacted 1949) provides California counties with an optional alternative method for allocating delinquent property tax revenues.
Using the accrual method of accounting under the Teeter Plan, counties allocate property tax revenues based on the total amount of property taxes billed, but not yet collected.
In exchange, the counties receive the penalties and interest on the delinquent taxes when collected.
For counties not under the Teeter Plan, interest and penalty are allocated to all agencies based on their pro rata share of the delinquent property tax.
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