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.
Complete form BOE-266, Claim for Homeowners' Property Tax Exemption. Obtain the claim form from the County Assessor's office where the property is located. Submit the completed form to the same office.
Filing a homestead declaration typically requires three steps. Complete a homestead declaration form. Sign your declaration in front of a notary. Record the homestead declaration form with your county recorder's office.
Declared Homestead. Currently, the California homestead exemption is automatic, meaning that a homestead declaration does not need to be filed with the county clerk. Under the new 2021 law, $300,000–$600,000 of a home's equity cannot be touched by judgment creditors.
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.
You can file a declared homestead by taking these steps: Buy a declared homestead form from an office-supply store, or download a form from the Registrar-Recorder's website. Fill out the form. Sign the form and have it notarized.
In 2024, the exemption ranges from a minimum of $349,720 to a maximum of $699,426, based on county median home sale prices. The increased number provides more substantial equity protection for homeowners, acknowledging the varying real estate values across the state.
A homestead can protect the $50,000. There are two types of homesteads, automatic and declared.
California Homestead Exemption and Bankruptcy Using the revised exemption for 2021, a debtor may have $600,000 of equity in their Los Angeles or Orange County home and still file a Chapter 7 bankruptcy with their home being protected. The homestead exemption in Riverside County is $400,500.