Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.
Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.
At its core, homestead exemption reduces the taxable value of a homeowner's primary residence, meaning a portion of the home value will not be taxed. This reduction results in lower property tax bills.
It provides a legal shield against creditors, preserves your home equity, and offers peace of mind in an unpredictable world.
WHAT IS A HOMESTEAD DECLARATION? A homestead declaration is a legal document that claims and registers a particular house as the owner's homestead or principle dwelling. This document helps to protect the house against loss to creditors.
If you own and occupy your home as your principal place of residence on January 1, you may apply for an exemption of $7,000 off your assessed value for an annual savings of approximately $70 on your property taxes. New property owners will automatically receive an exemption application.
Obtain the claim form from the County Assessor's office where the property is located. Submit the completed form to the same office. Once the exemption has been granted, it remains effective until a change in eligibility occurs, such as selling or moving out of the home. Annual filing is not required.
Homeowner's Exemption If you own and occupy the property as your principal place of residence, you are eligible for a Homeowners' Exemption of $7,000 in assessed value for that property. The exemption will reduce the annual property tax bill by at least $70 each year.
Declaration of Homestead – A document recorded by either a homeowner or head of household on his primary residence to protect his home from forced sale in satisfaction of certain types of creditors' claims. Decree of Distribution – Evidences the distribution of real property from the estate of a deceased person.
As of January 1, 2024, the new minimum homestead exemption is $349,720 and the new maximum is $699,426. For Riverside County, the 2024 homestead exemption is $612,000. For San Bernardino County, the 2024 homestead exemption is $475,000.
Lower My Property Taxes Decline In Value / Prop 8. Calamity / Property Destroyed. Disabled Veterans' Exemption. Homeowners' Exemption. Nonprofit Exemptions. Transfers Between Family Members. Transfer of Base Year Value to Replacement Dwelling. Assessment A​p​peal.