Apply for a Homeowners Property Tax ExemptionIf this information saves you any money, please consider donating a portion of it to your favorite charity. Thanks to David Fedors for supplying this information.
Reducing Your Property Tax by applying for the Homeowner's Exemption.
How to determine if you are taking advantage of the Homeowner's Exemption:
1. Using the Annual Property Tax Information Statement:
2. Using the Internet:
How to get the Homeowner's exemption if you are eligible and not receiving it:
County of Los Angeles Assessor's Office
A late filing after the deadline but before December 1 entitles the owner to receive 80% ($5,600) of the $7,000 exemption.
If this saves you money, make a donation to the Rancho Vista Homeowner's Association! Property tax information is a matter of public record and is easily available via the Internet. An informal survey of the Rancho Vista Area showed that many people are not taking advantage of the Homeowner's exemption. If you heard about the Homeowner's exemption from this flyer, consider making a portion of your first year's property tax savings a donation ($50.00 recommended) to the Rancho Vista Homeowner's Association. This organization is working hard to maintain the value of your property by ensuring that wise land use decisions are made that conform with the current economic, social, and environmental factors which led you to purchase a home in the Rancho Vista area.
Rancho Vista Homeowners' Association, Inc.
Reference from the California Revenue and Taxation Code, Section 218. (See http://www.leginfo.ca.gov/cgi-bin/displaycode?section=rtc&group=00001-01000&file=201-241)
The homeowners' property tax exemption is in the amount of the assessed value of the dwelling specified in this section, as authorized by subdivision (k) of Section 3 of Article XIII of the Constitution. That exemption shall be in the amount of seven thousand dollars ($7,000) of the full value of the dwelling. The exemption does not extend to property which is rented, vacant, under construction on the lien date, or which is a vacation or secondary home of the owner or owners, nor does it apply to property on which an owner receives the veteran's exemption. "Owner" includes a person purchasing the dwelling under a contract of sale or who holds shares or membership in a cooperative housing corporation, which holding is a requisite to the exclusive right of occupancy of a dwelling. As used in this section, "dwelling" shall include: (a) A single-family dwelling occupied by an owner thereof as his or her principal place of residence on the lien date. (b) A multiple-dwelling unit occupied by an owner thereof on the lien date as his or her principal place of residence. (c) A condominium occupied by an owner thereof as his or her principal place of residence on the lien date. (d) Premises occupied by the owner of shares or a membership interest in a cooperative housing corporation, as defined in subdivision (h) of Section 61, as his or her principal place of residence on the lien date. Each exemption allowed pursuant to this subdivision shall be deducted from the total assessed valuation of the cooperative housing corporation. The exemption shall be taken into account in apportioning property taxes among owners of share or membership interests in the cooperative housing corporations so as to benefit those owners who qualify for the exemption. "Dwelling" means a building, structure or other shelter constituting a place of abode, whether real property or personal property, and any land on which it may be situated. For purposes of this section a two-dwelling unit shall be considered as two separate single-family dwellings. Any dwelling that qualified for an exemption under this section prior to October 20, 1991, that was damaged or destroyed by fire in a disaster, as declared by the Governor, occurring on or after October 20, 1991, and before November 1, 1991, and that has not changed ownership since October 20, 1991, shall not be disqualified as a "dwelling" or be denied an exemption under this section solely on the basis that the dwelling was temporarily damaged or destroyed or was being reconstructed by the owner. The exemption provided for in subdivision (k) of Section 3 of Article XIII of the Constitution shall first be applied to the building, structure or other shelter and the excess, if any, shall be applied to any land on which it may be located.