Change
in ownership statement.
Any person acquiring an interest in property
subject to local taxation must notify the
county recorder or assessor by filling a
change in ownership statement within 45 days of the date of
transfer. Failure do so will result in a penalty.
Homeowners exemption.
Each residential property that is owner occupied on the lien date
of March 1 receives an annual tax homeowners exemption of $7,000
from the full cash value. The homeowner needs to apply only
once for this homeowners exemption if from year to year there is no
change in the ownership. A Homeowner must have been the owner of
record on or before March 1 and actually occupied the property to
claim this exemption for the upcoming tax year beginning July
1. Homeowner is allowed only one exemption at a time.
Once this exemption has been filed, it remains in effect until
terminated. The assessor must be notified of a termination, or
assessment plus 25% penalty may be made.
Senior citizens property tax postponement.
Another form of relief ace senior citizens property tax
postponement. A homeowner who is at least 62 years old as of
January 1 may be eligible to half the state of California pretty all
or part of the real property tax on his or her home. The taxes
are postponed and are not paid until the property is sold or to
claimant no longer occupies the
property.
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