The California Constitution provides a $7,000 reduction in the taxable value of a qualifying owner-occupied home. The home must have been the principal place of residence of the owner on January 1. To claim the exemption, the homeowner must make a one-time filing with the County Assessor where the property is located. First-time filers may file any time after the property or claimant becomes eligible, but no later than February 15 to receive the full exemption for that year. Homeowners’ Exemptions may also apply to supplemental assessments when properties have not received the exemption on the prior assessment roll.
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.
