To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. As of January 1, 2021, the California homestead exemption is a minimum of 300,000 dollars, but can be as high as 600,000 dollars.Senior Citizen Homeowners' Property Tax Exemption. 0117). How to Apply for the Homeowners'. Exemption. Complete form BOE-266, Claim for Homeowners'. In addition, the Assessor sends an application to every new homeowner pre-filled with information that identifies the property and the sales transaction. Application for Senior Citizens. Exemption. For help completing this application, see Form RP-467-I, Instructions for Forms RP-467 and RP-467-Rnw. You must own the property and live in it as your primary residence to qualify. Two forms of identification or proof of address.