Your referral is greatest compliment I can receive

OVER 20 YEARS EXPERIENCE AS REAL ESTATE AGENT HELPING CLIENTS AT LONG BEACH
Broker® license 01221449

Thursday, May 17, 2018

How to Apply for $7000 Homeowner’s Exemption in LA county

by Amir Zee, iphone 6s 2017
Photo by Amir Zee | Lafayette bldg. exterior 2017
Homeowners Exemption applies to homes that serve as a principal place of residence and amounts to a $7000 deduction from the home's assessed value, saving taxpayers approximately $70 per year.
The Assessor's Office estimates that nearly 400,000 homeowners are still eligible but fail to take advantage of these savings. This exemption can be especially beneficial to low-income homeowners and people on fixed incomes.

While $70 may seem inconsequential to some, over a 10-year period, it amounts to $700 – roughly the price of a new water heater. The Assessor also warns residents against fraudsters who offer to file an exemption for a fee. There is no filing fee, and no need to re-apply once qualified and Assessor's office is happy to help homeowners with the process. For additional information,
please visit the LA Assessor’s website If you own a home and it is your principal place of residence on January 1, you may apply for an exemption of $7,000 from your assessed value. New property owners will automatically receive a Claim For Homeowners' Property Tax Exemption. Homeowners’ Exemptions may also apply to a supplemental assessment if the prior owner did not claim the exemption. Further instructions are included with the claim form. Call 213.974-3211 or 1.888.807.2111 for forms and additional information.

This information is not intended as a complete guide regarding property tax laws. The information here has been derived in part from written and oral opinions from the California State Board of Equalization.

I appreciate your comment and questions. Feel free to post them, and I will be glad to answer them. Be sure to subscribe to blog for future informative posts.

No comments:

Post a Comment

I appreciate your comment, questions, and suggestion and will respond to all of them as best as possible.