Homestead Act Information With Third Parties In San Jose
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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.
The California Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home.
A homestead can protect the $50,000. There are two types of homesteads, automatic and declared.
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.
Declared Homestead. Currently, the California homestead exemption is automatic, meaning that a homestead declaration does not need to be filed with the county clerk. Under the new 2021 law, $300,000–$600,000 of a home's equity cannot be touched by judgment creditors.
TO RECEIVE A CLAIM FORM: Homeowners can call the Assessor's Exemption Unit at (408) 299-6460 or e-mail the Assessor's Office at Exemptions@asr.sccgov . When contacting or e-mailing the Assessor's Office please provide the property address and assessor's parcel number.
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.
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.
