Homestead Exemption Application For Senior Citizens In San Bernardino
Description
Form popularity
FAQ
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.
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.
Filing a homestead declaration typically requires three steps. Complete a homestead declaration form. Sign your declaration in front of a notary. Record the homestead declaration form with your county recorder's 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.
For Riverside County, the 2024 homestead exemption is $612,000. For San Bernardino County, the 2024 homestead exemption is $475,000. If you have not recorded a homestead declaration for your home, we recommend you do so. The homestead declaration puts everyone on notice that your residence is your homestead.
Maximum California homestead exemption adjusted for CPI (by year) YearMinimumMaximum 2023 $339,189.00 $678,378.01 2024 $349,712.99 $699,425.98 2025 $361,110.12 $722,220.23 2026 2 more rows •
Obtain the claim form from the County Assessor's office where the property is located. Submit the completed form to the same office. Once the exemption has been granted, it remains effective until a change in eligibility occurs, such as selling or moving out of the home. Annual filing is not required.
Filing a homestead declaration creates a legal barrier that shields up to a statutory amount of equity in your home from certain creditors. In the unfortunate event of financial difficulties or legal issues, your homestead exemption can prevent creditors from forcing the sale of your primary residence to satisfy debts.
Prop. 19 would eliminate a loophole that has allowed the children and grandchildren of original property owners to avoid paying market-value taxes on a property that is not their primary residence.
