External form summary
California property tax laws provide two alternatives by which the Homeowners’ Exemption, up to a maximum of $7,000 of assessed value, may be granted.
Alternative 1: The exemption is available to an eligible owner of a dwelling which is occupied as the owner’s principal place of residence as of 12:01
a.m., January 1 each year; or
Alternative 2: The exemption is available to an eligible owner of a dwelling subject to supplemental assessment(s) resulting from achange in ownership or completion of new construction on or after January 1, provided:
- The owner occupies the property as his or her principal place of residence within 90 days after the change in ownership or completion of
construction; and - The property is not already receiving the Homeowners’ Exemption or another property tax exemption of greater value. If the property received an exemption of lesser value on the current roll, the difference in the amount between the two exemptions shall be applied to the Supplemental Assessment.