PURCHASE

Property owners who occupy their homes as their primary residence may be eligible for an exemption. The Homeowners’ Exemption provides for a maximum reduction of $7,000 off the assessed value of your residence, which equates to a savings of approximately $70 on your annual property tax bill. 

You can check your County Assessor’s website for their process and time for filing the Homeowners’ Exemption. Once the exemption is granted, it will continue as long as you own and occupy the property as your primary residence. The county will want to be notified when the property is no longer eligible for the exemption – one example would be you moved out of the home and are now using the property as a rental. You can visit your local County Assessor’s website for more information. The information presented pertains to California.

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