Homeowner's property tax exemption on San Diego, Ca homes

Scott S. Hamill Broker / Realtor Pacific Real Estate 7825 Fay Avenue Suite 200 La Jolla, CA 92037 (858) 405-2454 E-mail
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Homeowner's property tax exemption on San Diego, Ca homes

Homeowner's property tax exemption is $7,000 of assessed valuation. Not the same as a homestead exemption.

The HOMEOWNER'S PROPERTY TAX EXEMPTION is a deduction, on the property tax bill, of the first $7,000 of assessed value of an owner-occupied property.

A homeowner's exemption on your home does the following:

All personal property of the homeowner is exempt from property taxes.

A resident owner receives a $7,000 homeowner's exemption in assessed value if the property is the principal residence on the 1st of March.

The time to file for the homeowner's exemption is from January 1st to April 15th in order to receive the full exemption. Once the exemption is filed, it remains on the property until the homeowner terminates it. If the exemption is terminated, a new claim form must be obtained from, and filed with, the assessor to regain eligibility.

Qualifying San Diego, Ca homes that are owner-occupied receive a $7,000 homeowner's exemption. For example, an assessed value of $200,000 minus the homeowner's exemption of $7,000 is $193,000.

Any resident who served in the military during a time of war is entitled to an annual $4,000 property tax exemption against the assessed value of one property. This exemption also applies to the widow, widowed mother, or pensioned father of a deceased veteran. However, the exempted property is limited to an assessed value of less than $5,000 for a single veteran or $10,000 if he or she is married. For disabled veterans who qualify, however, the assessment limit can be raised up to $100,000. Note: A veteran cannot have a veteran's exemption and a homeowner's property tax exemption on the same property.