GENERAL INFORMATION

California property tax laws provide two alternatives by which the homeowners' property tax exemption, up to a maximum of $7,000 of assessed value, may be granted:

Alternative 1: The exemption is available to an eligible owner of a dwelling which is occupied as the owners` principal place of residence as of 12:01 a.m., January 1 each year, or

Alternative 2: The exemption is available to an eligible owner of a dwelling subject to Supplemental Assessment's) resulting from a change in own- reship or completion of new construction on or after January 1, provided,

(a) The owner occupies or intends to occupy the property as his or her principal place of residence within ninety (90) days after the change in ownership or completion of construction and,

(b) The property is not already receiving the homeowners' exemption or another property tax exemption of received value. If the property received an exemption of lesser value on the current roll, the difference in the amount between the two exemptions shall be applied to the Supplemental Assessment.

Filing for exemption under Alternative 2 will apply to the Supplemental Assessment's, if any, and serve as filing for the exemption for the following fiscal year(s).

To obtain the exemption, the claimant must be an owner or co-owner or a purchaser named in a contract of sale. The dwelling may be any place of residence subject to property tax; a single-family residence, a structure containing more than one dwelling unit,. a condominium or unit in a cooperative housing project, a houseboat, a manufactured home (mobilehome) , land you own on which you live in a state-licensed trailer or manufactured home (mobilehome), and the cabana for such a trailer or manufactured home (mobilehome) are exemptions. A dwelling does not qualify for the exemption if it is, or is intended to be, rented, vacant and unoccupied, or the vacation or secondary home of the claimant. If you do not occupy or intend to occupy this parcel as your principal residence, please discard this form.

If the homeowners' exemption is granted and the property later becomes ineligible for the exemption, you are responsible for notifying the Assessor of that fact immediately. Section 531.6 of the Revenue and Taxation Code provides for a penalty of 25 percent of the escape assessment added for failure to notify the Assessor in a timely manner when property is no longer eligible for the exemption. As a reminder, your tax bill, or copy thereof, mailed by November 1 each year should be accompanied by a notice concerning ineligibility for the exemption.

Once granted, the exemption remains in effect until terminated. Once terminated, a new claim form must be obtained from and filed with the Assessor to regain eligibility.

TIME FOR FILING

Alternative 1: The full exemption is available if the filing is made by 5 p.m. on February 15. If a claim is filed between February 16 and 5 p.m. on December 10, 80 percent of the exemption is available.

Alternative 2: The full exemption (up to the amount of the supplemental assessment), if any, is available providing the full exemption has not already been applied to the property on the regular roll or on a prior supplemental assessment for the same year. To be applied the filing must be made by 5 p.m. on the 30th day following the Notice of Supplemental Assessment issued as a result of a change in ownership or completed new construction. If a claim is filed after the 30th day following the date of the Notice of Supplemental Assessment, but on or before the date on which the first installment of taxes on the supplemental tax bill becomes delinquent, 80 percent of the exemption available may be allowed. Thereafter, no exemption is available on the supplemental assessment.