Homeowners exemption reduces taxable value, decreasing annual property tax. Homestead exemption protects home equity from creditor claims and during bankruptcy.

To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located. The claim form, BOE-266, Claim for Homeowners' Property Tax Exemption, is available from the county assessor.

The Homeowners' Exemption, which allows a $7,000 exemption from property taxation, is authorized by Article XIII, section 3, subdivision (k) of the California Constitution and implemented by Revenue and Taxation Code section 218. The exemption reduces a dwelling's assessed value on a qualified residence.

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.

The protected amount is called the “homestead exemption.” All homeowners automatically have a homeowner's exemption, which protects part of their equity from involuntary sales (foreclosures). Recording a declaration of ownership extends this protection to voluntary sales.

The home must have been the principal place of residence of the owner on the lien date, January 1st. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located.

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1. When did you acquire this property? To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located.Complete a homestead declaration form. Exemption. Complete form BOE-266, Claim for Homeowners'. Property Tax Exemption. If you own and occupy your home as your principal place of residence, you may apply for a Homeowners' Exemption. To qualify for the homeowners' exemption, the home must have been the principal residence of the owner as of January 1 of that tax year. According to California State law, Homeowners' Exemptions cannot be granted for prior years. How do I obtain a Homeowners' Exemption application? The Treasurer and Tax Collector mails the Annual Secured Property Tax Bills each year in October to every owner listed on the Secured Tax Roll.

Homestead Exemption Form California In Santa Clara

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