Under certain circumstances described below, California law allows taxpayers the ability to permanently or temporarily reduce their assessed value, and/or transfer their protected Proposition 13 assessed value. Below is information about the major programs.
To speak to a staff member about one of these programs see our list of contacts /images/227229phone_trans.gif)
PERMANENT PROPERTY TAX RELIEF, AKA EXEMPTIONS
The homeowner exemption More Information... FAQ
If you own and occupy your home as your principal place of residence, you may be eligible for an exemption of up to $7,000 off of the assessed value. This exemption will reduce your annual property tax bill by about $70.
Veterans Exemption More Information...
The veterans' exemption may be applied to real or personal property located in the county, and exempts up to $4,000 off of the assessed value of the property.
Disabled Veterans Exemption More Information... FAQ Form Worksheet
If you are a veteran who is rated by the Veterans Administration as 100% service-connected disabled, (or if you are the surviving spouse of such a veteran), you may be eligible for an exemption of up to $150,000 off of the assessed value of your home.
TEMPORARY RELIEF PROGRAMS
Allows property owners, under certain circumstances, to temporarily reduce the assessed value when the market value of their property drops below the Assessed Value.
TRANSFERRING YOUR PROPOSITION 13 VALUES
The following propositions were adopted by California voters to allow property owners to transfer Prop. 13 factored base year values or to exclude certain events from reassessment. If you qualify, you must submit a completed claim form to receive these tax-savings benefits.
In some circumstances, your Prop. 13 factored base year value may not make it beneficial to file a claim.
When Is It Beneficial To Transfer A Base Year Value?
It may be beneficial to transfer a base year value if the purchase price (market value) of the new property is higher than the Proposition 13 taxable value of the original property.
If you qualify, taxes on the new property would be based on the Prop. 13 value of the original property, not the market value of the new property. It would not be beneficial to transfer the base year value if the purchase price (market value) of the new property is lower than the Proposition 13 taxable value or the original property.
Before you decide to file a claim transfer a base year value, you should consider the following questions:
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What is the market value of the new property on the date of transfer?
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What is the full Prop. 13 taxable value of the original property?
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Does the original property have a Prop. 8 reduced value due to market conditions?
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Once you have answered these questions you can begin to analyze the values with the scenarios that may apply to you
More importantly, if you are not sure, call the Assessor's Office!
YOU
ARE HERE › Assessor, Office of the (ELO)
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