Q. What is a Homeowners’ Exemption?
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A. A Homeowners’ Exemption could save you at least $70 per year. If you own and occupy your principal place of residence on January 1, you may apply for a Homeowners’ Exemption that will exempt $7,000 of your home’s assessed value from taxation.
Q. How do I get a Homeowners’ Exemption?
New property owners will usually receive an exemption application within 90 days of recording a deed. If you acquired the property more than 90 days ago and have not received an application, contact the Orange County Assessor here.
Q. What is the filing period for the Homeowners’ Exemption?
The deadline to file for the full exemption is February 15. A partial exemption is available if your exemption claim form is filed between February 16 and December 10.
Q. Do I need to reapply for this exemption every year?
No. Once you have filed for a Homeowners’ Exemption and you continue to own and occupy the residence, you will automatically receive the exemption. However, if a document is filed with the Clerk-Recorder’s Office that changes the way the title is held, you may be required to reapply.
Q. How can I verify that I am receiving a Homeowners’ Exemption?
A Homeowners’ Exemption will appear as a $7,000 reduction in assessed value on the annual value notice and property tax bill.
Q. If I move out and rent my house to someone else, am I still eligible for the exemption?
No. If you do not own and occupy your home as your principal place of residence, you must cancel your Homeowners’ Exemption. You can cancel the exemption by writing to Clerk-Recorder’s Office or using the termination form included with your property tax bill.
Q. Why do I need to supply Social Security Numbers?
Social Security Numbers are used to verify the eligibility of persons claiming the exemption and prevent multiple claims. Claim forms and Social Security Numbers are kept strictly confidential.
I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Berkshire Hathaway HomeServices California Properties.
If you have any questions about the real estate market, or are interested in listing or buying, please don't hesitate to contact me at (714) 914-9060 or Renee@bhhscdm.com!
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