Homestead Act For Seniors In Riverside
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FAQ
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 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 ...
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.
In order to apply, you must complete and submit the necessary application within three years of the date you buy your replacement property. Along with the application, you must also provide valid identification (e.g. drivers license, passport, birth certificate. Etc.) for age verification.
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.
It does protect your home's equity from consumer creditors - up to the maximum amount afforded by California law - when is recorded before a judgment is recorded. A homestead declaration will also not protect you against a court judgment against you for unpaid child support, delinquent alimony or most mechanic's liens.
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.
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.
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.
