Residence Homestead Exemption Application Form 50-114 In Alameda
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FAQ
1. Senior Citizen Homeowners' Property Tax Exemption. The Senior Citizen Homeowners' Property Tax Exemption is available to homeowners who are at least 65 years old and meet certain income requirements.
The California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home. The home must have been the principal place of residence of the owner on the lien date, January 1st.
This exemption is available to a single homeowner age 65 or older, or a couple filing a joint petition, if either or both are age 65 or over. You may not double the exemption amount if you are married and filing jointly.
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.
The protected amount is called the “homestead exemption.” All homeowners automatically have a homeowner's exemption, which protects part of their equity from involuntary sales (foreclosures). Recording a declaration of ownership extends this protection to voluntary sales.
You can file a declared homestead by taking these steps: Buy a declared homestead form from an office-supply store, or download a form from the Registrar-Recorder's website. Fill out the form. Sign the form and have it notarized.
