How CA Homeowners Can Save $70 On Local Property Taxes Every Year

LOS ANGELES, CA — Homeowners in California can benefit from a $7,000 reduction to their home's taxable value, but every year hundreds of thousands of homeowners miss out on the savings.

Most homeowners are eligible for the annual reduction in their primary home's assessed value for an automatic savings of $70 each year. The state's Constitution gives homeowners relief from the high cost of housing through the Homeowner's Exemption.

The California Board of Equalization doesn't keep track of how many eligible homeowners aren't receiving the exemption statewide, but in Los Angeles, the state's largest county, a third of the county's homeowners are not aware of the savings or do not take advantage of it, said Assessor Jeff Prang.

"Nearly one in three homeowners in Los Angeles County do not take advantage of this tax savings program, leaving $30 million unclaimed each year," Prang said. "Across the county, an additional 435,000 families can be saving on their tax bills."

To determine if you are already receiving your Homeowners' Exemption, check your latest property tax bill. The exemption is shown in the upper-right part of the bill.

To qualify, the homeowner must live in the home as their primary residence as of Jan. 1 of each year. To benefit, homeowners have to apply for the exception by Feb. 15. The exemption automatically reduces a home's assessed value by $7,000, and homeowners need only apply once to receive the savings each year when the property tax is due.

The savings continue until a change to the property is sold, rented or no longer used as the homeowner's primary residence. If the deadline is missed and a claim is filed later this year, a homeowner may have their savings prorated for this tax year and receive the full benefit in future years. The exemption does not apply to property that is rented, vacant, or under construction

The exemption can also apply to properties transferred between parents and children or in some cases, even grandparents to grandchildren. But if the property is not being used as the owner's primary residence or the exemption is not claimed, children will not receive the tax benefit.

Each county posts claim forms for the Homeowners’ Property Tax Exemption on the county assessor's website. The forms can be mailed in, submitted in person, or submitted online in some counties. You can find your county's forms below:

• Los Angeles County
• Alameda county
• Orange County
• Riverside County or Riverside County e-form
• San Diego County
• Santa Clara County e-form
• San Mateo County
• San Francisco County
• Contra Costa County
• Marin County
• Sacramento County

City News Service contributed to this report.