Did you know that the California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home. The California homeowners property tax exemption helps save money and better manage property taxes. But, it’s not an exemption that everyone knows about, and all it takes is a simple piece of paperwork to claim.
- Eligibility for the Homeowners Property Tax Exemption:
To be eligible for the homeowners property tax exemption in California, you must meet the following criteria:- Ownership: You must own and occupy the property as your principal place of residence. The property can be a house, condominium, manufactured home, or a cooperative unit.
- Status: You must occupy the property as of January 1st of the tax year for which you are claiming the exemption. It must be your primary residence, not a vacation home or rental property.
- Filing Requirements: You must file a claim for the exemption with the county assessor’s office in the county where the property is located.
- How to Claim the Homeowners Property Tax Exemption:
To claim the homeowners property tax exemption in California, follow these steps:- Obtain the Application: Visit the website of your county assessor’s office or contact them directly to obtain the application for the homeowners property tax exemption. Many assessors provide online resources and downloadable forms.
- Complete the Application: Fill out the application accurately and completely. Provide all required information, including your name, property address, and the date you acquired the property. Include any supporting documentation requested, such as proof of ownership or occupancy.
- Submit the Application: Once the application is completed, submit it to the county assessor’s office by the specified deadline. Make sure to keep a copy of the application and any supporting documentation for your records. A person filing for the first time on a property may file anytime after the property or claimant becomes eligible, but no later than February 15 to receive the full exemption for that year.
- Verification and Approval: The county assessor’s office will review your application and may follow up for any additional information or verification. Upon approval, you will receive a notice confirming your eligibility for the homeowners property tax exemption.
- Enjoy the Exemption: Once approved, the exemption will be reflected on your property tax bill, reducing the amount you owe. The exemption is not a one-time benefit but applies annually as long as you meet the eligibility criteria.
- Additional Considerations:
- Deadlines: It is crucial to adhere to the application submission deadlines set by your county assessor’s office. Missing the deadline may result in the denial or delay of your application, potentially causing you to miss out on the exemption for that tax year.
- Notifications: If there are any changes in ownership or occupancy status, such as selling the property or moving out, it is essential to inform the county assessor’s office promptly to avoid any issues with the exemption. Homeowners’ Exemption claimants are responsible for notifying the assessor when they are no longer eligible for the exemption. December 10 is the last day to terminate the Homeowners’ Exemption without penalty; the assessor should receive notice of ineligibility by that date.
- Renewal: In most cases, the homeowners property tax exemption does not require annual renewal as long as you continue to meet the eligibility criteria. However, it is advisable to check with your county assessor’s office for any specific requirements or updates.
By understanding the eligibility requirements and following the steps to claim the exemption, homeowners can save money and better manage their property taxes.
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