The benefit of a Homeowners' Exemption:
A Homeowners' Exemption will save you at least $70 per year in property taxes, by exempting $7,000 of your property's value from taxation.
| Taxable value of your Home | $250,000 |
| Less: Homeowners' Exemption | -7,000 |
| Taxes are Calculated on | $243,000 |
You may qualify for the Homeowners' Exemption if:
- You own the property.
- It was your principal residence on January 1st at 12:01 a.m.
- You don't already have a Homeowners' Exemption on any other property.
- And you submit a completed application for Homeowner's Exemption.
In addition, the Assessor sends an application to every new homeowner pre-filled with information that identifies the property and the sales transaction. The deadline for filing for the full $7,000 exemption is February 15th at 5:00 P.M. however, qualified applicants filing on or before December 10th may receive eighty percent (80%) of the full exemption amount, which is $5,600.
Terminating your existing Homeowners' Exemption:
If you have sold or moved from a residence where you are receiving a Homeowners' Exemption, you are responsible for notifying the Assessor that you are no longer eligible for the exemption on that residence.
Submit a Homeowners' Exemption Termination Notice by December 10th to terminate your Homeowners' Exemption without penalty. You may call (714) 834-3821 for more information.
