Homestead Exemption For Seniors In Contra Costa
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FAQ
Complete form BOE-266, Claim for Homeowners' Property Tax Exemption. Obtain the claim form from the County Assessor's office where the property is located. Submit the completed form to the same office.
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.
Homeowners' Exemption is a statutory tax provision, which provides a homeowner a $7,000 reduction off the taxable value on their primary residence. With an approximate 1% property tax rate, the exemption provides roughly a $70 annual saving off your property taxes.
If you own and occupy your home as your principal place of residence on January 1, you may apply for an exemption of $7,000 off your assessed value for an annual savings of approximately $70 on your property taxes. New property owners will automatically receive an exemption application.
To obtain the exemption for a property, you must be its owner or co-owner (or a purchaser named in a contract of sale), and you must live in the property as your principal place of residence. You must also file the appropriate exemption claim form with the Assessor.
The State Controller's Property Tax Postponement Program allows homeowners who are seniors, are blind, or have a disability to defer current-year property taxes on their principal residence if they meet certain criteria, including at least 40 percent equity in the home and an annual household income of $53,574 or less ...
Taxes aren't determined by age, so you will never age out of paying taxes. People who are 65 or older at the end of 2024 have to file a return for tax year 2024 (which is due in 2025) if their gross income is $16,550 or higher.
