L.A. County Assessor Jeffrey Prang and the Board of Supervisors want to educate the public on property tax savings! To kick off their promotional efforts, they have proclaimed January as Homeowner Exemption Awareness Month.
Every year, $30 million worth of unclaimed savings are left behind! That means one in three homeowners in L.A. County do not take advantage of saving on their tax bills. This exemption can reduce a property’s taxable assessed value by $7000. The only caveat being the property must be the owner’s principal place of residence on January 1st. As long as the property is your main place of residence at the start of this year, you could save $70 on your annual tax bill.
Homeowners need only to apply online once to receive these savings every year. Savings will continue until a change (such as a sale) is recorded.
The Homeowners’ Exemption claim form and filing information are available here. To download the form, click here. For additional property tax relief programs, including disaster relief for properties that sustained damage during the recent wildfires or flooding, visit assessor.lacounty.gov/exclusions-tax-relief or call 213/974-3211.