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Exemption, Exclusions and Tax Relief
 
 
Homeowners’ Exemption
 
If you own a home and it is your principal place of residence on January 1, you may apply for an exemption of $7,000 from your assessed value. New property owners will automatically receive an exemption application. Homeowners’ Exemptions may also apply to a supplemental assessment if the prior owner did not claim the exemption.
 
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Disaster Relief
 
You may be eligible for tax relief if your property is damaged or destroyed by a calamity, such as fire or flooding. To qualify, you must file a misfortune or calamity claim with the Assessor’s Office within 12 months from the date the property was damaged or destroyed. The loss must exceed $10,000 of current market value.
 
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Eminent Domain–Proposition 3
 
If a government agency acquires your property, you may have the right to retain that property’s existing assessed value and transfer it to a replacement property.
 
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Market Value Decline–Proposition 8
 
If the current market value of your property is less than its current assessed value, you may qualify for tax relief.
 
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Propositions 58 & 1931
 
These constitutional initiatives provide property tax relief for real property transfers between parents and children and from grandparents to grandchildren. Collectively, they make it easier to keep property “in the family.”

In general, Proposition 58 states that real property transfers, from parent to child or child to parent, may be excluded from reassessment. Proposition 193 expands this tax relief to include transfers from grandparent(s) to grandchild(ren). In both cases, a claim must be filed within three years of the date of transfer to receive the full benefit of the exclusion.
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Propositions 60 and 90
 
If you or your spouse who resides with you is age 55 or older, you may buy or construct a new home of equal or lesser value than your existing home and transfer the trended base value to your new property.

This is a one-time only benefit. You must buy or complete construction of your replacement home within two years of the sale of the original property. Both the original home and the new home must be your principal place of residence. A claim must be filed within three years of purchasing or completing new construction of the replacement property. If a claim is filed after the three-year period, relief will be granted beginning with the calendar year in which the claim was filed.

Once you have filed and received this tax relief, neither you nor your spouse who resides with you can ever file again.