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.Complete form BOE-266, Claim for Homeowners'. Property Tax Exemption. Download PDF BOE-266 REV. Listed below are some common questions frequently asked about programs to lower your tax bills. What is a Homeowner Exemption? Currently, the California homestead exemption is automatic, meaning that a homestead declaration does not need to be filed with the county clerk. What Is Homestead Exemption? A homestead exemption is a legal provision that helps to reduce the amount of property taxes on owner-occupied homes.