Letter from attorney to opposing counsel requesting documentation concerning homestead exemption for change of venue motion.
Homestead Act Information With Third Parties In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-0032LTR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
As of January 1, 2024, the new minimum homestead exemption is $349,720 and the new maximum is $699,426. For Riverside County, the 2024 homestead exemption is $612,000. For San Bernardino County, the 2024 homestead exemption is $475,000.
At its core, homestead exemption reduces the taxable value of a homeowner's primary residence, meaning a portion of the home value will not be taxed. This reduction results in lower property tax bills.
In 2024, the exemption ranges from a minimum of $349,720 to a maximum of $699,426, based on county median home sale prices. The increased number provides more substantial equity protection for homeowners, acknowledging the varying real estate values across the state.
The home must have been the principal place of residence of the owner on the lien date, January 1st. To claim the exemption, the homeowner must make a one-time filing with the county assessor where the property is located.
A homestead can protect the $50,000. There are two types of homesteads, automatic and declared.
To qualify, you must be a property owner, co-owner, or purchaser named in a contract of sale. You must occupy your home as your principal place of residence as of January 1 of each year.
Disabled Veterans' Exemption The Veterans Administration must certify 100% disability. An additional exemption is available for qualified low-income veterans. Unfortunately, there is no provision in the law for a Disabled Veterans' Exemption if you are less than 100% disabled.
You must occupy the dwelling as your principal residence as of January 1 of each year to qualify for the Homeowners' Exemption for that year.
