As a homeowner, you should know about these four forms regarding protection of your primary residence and possible reduction of property taxes.
1. Home Protection for Seniors, Severely Disabled, Families and Victim’s and of Wildfires or Natural Disasters Act – lf you are 55 or older, you have sold your primary residence, and are occupying your replacement primary residence, you may file form BOE-60-AH, Claim of Person(s) at Least 55 Years of Age for Transfer of Base Year Value to Replacement Dwelling, it gets filed with the County Clerk’s Recorder’s Office where the replacement property is located. More information may be found in the California State Board of Equalization information page.
2. Homestead Declaration – This form serves as a protection on your primary residence in the event certain creditors want to force a sale to satisfy a court judgment. There is a designated amount that protects the property equity. You should seek legal advice to ensure the form is completed properly. The notarized Declaration of Homestead form is filed with the County Clerk Recorder’s Office where the property is located.
3. Property Tax Exemption – The State of California allows an exemption of up to $7,000 on the value to assess the tax of your primary residence. The claim form, BOE-266, Claim for Homeowners’ Property Tax Exemption can be provided by the County Assessor’s Office and you file it with the County Clerk Recorder’s Office where the property is located. More information may be found in the California State Board of Equalization Property Tax Exemption page
4. Notice of Supplemental Assessment – The County Assessor of the county where the property is located will assess the property value to determine the tax on the property value. You do not need to file anything for this but if you had new construction or if you just bought a property, you should expect this notice. Depending on whether the value went up or down, you will get a bill or a refund. More information may be found in the California State Board of Equalization Q&A page.
These forms are publicly available at your local County Assessor’s Office. They may be able to answer general questions but it is important that you seek legal advice if you have questions about how these forms may or may not benefit you.
Photos from Unsplash by: