What is a Homeowner’s Exemption?

The most common type of exemption is the Homeowner’s Exemption for an owner-occupied residence. Homeowners who own and occupy a dwelling on January 1st as their principal place of residence are eligible to receive a reduction of up to $7,000 of the dwelling’s full cash value. The law provides that once you file a homeowner’s exemption claim and receive the exemption it is not necessary to file each year as long as you continue to own and occupy the residence on which the exemption is claimed. “Dwelling” means a building, structure or other shelter (including boats) constituting a place of abode, whether real or personal property.

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1. What are the important tax bill dates?
2. What are all of these charges on my property tax bill?
3. What if I don’t agree with the assessed valuation of my property?
4. How do property taxes affect the value and marketability of my home?
5. What is Mello-Roos and why do I have to pay it?
6. Can a Mello-Roos district foreclose on my home?
7. Is my property subject to 180 day accelerated foreclosure?
8. Why do I have to give a buyer a Notice of Special Tax when I sell my property?
9. What is a 1915 Act Bond?
10. How are tax rates determined?
11. Is there any way I can reduce the amount of property taxes I pay?
12. What is a Homeowner’s Exemption?
13. Why did I receive a supplementary tax bill after purchasing my new home?
14. Will I receive a tax bill if I pay taxes through an impound account?
15. What are the consequences if I fail to make a timely property tax payment?