Seniors Property Taxes

SENIORS over 55 – CALIFORNIA OFFERS A VARIETY OF PROPERTY TAX EXEMPTONS

A homeowner can only apply one exemption to the property; choose the exemption that has the highest benefit to you. First, Proposition 13, caps the increase in property taxes to a maximum of 2% from the appraised value of your property when you purchased it.

Proposition 60 allows you to transfer your current level of tax obligation to your new property, so long as your new property is of equal or lesser value than the property you just moved from and in the same county.

Proposition 90 allows you to transfer your current level of tax obligation to your new property if you move to a different county that has opted into the program. The counties where Proposition 90 is available are: Alameda, El Dorado, Los Angeles, Orange, San Diego, San Mateo, Santa Clara and Ventura.

This makes moving for seniors on fixed income feasible. However, you can only use Proposition 60 or 90 once in your lifetime, unless you relocate again due to a disability and didn’t use your disability as the reason you relocated the first time. This exemption is not available if you move a third time.

Once you have finalized the sale of your old home and the purchase of you new home, fill out the claim form BOE-60-AH, Claim of Person(s) at Least 55 Years of Age for Transfer of Base Year Value to Replacement Dwelling. You may obtain the form from your local County Assessor’s office.

Second, if you are 65 or older you can file for Parcel Tax Exemptions. California counties levy parcel taxes onhomeowners in order to pay for certain public services such as education and utilities. The exemptions and procedures vary from county to county. You may be required to file for the exemption every year or your county may automatically apply the exemption after your first application.

Third, if you are a Disabled Veteran who was disabled through military service, the basic exemption starts at $100,000 and low-income disabled veterans around $150,000. The exact amount changes year to year according to the current cost-of-living index.

A qualifying disable veteran must meet one of the following criteria:• Blind in both eyes• Lost the use of two or more limbs• Is totally disabled according to the U.S. Dept. of Veteran Affairs• Be the surviving spouse of the veteran who died due to service-related injuries, even if the veteran wasn’teligible while he/she was alive

For more detailed answers see: https://www.ocgov.com/gov/assessor/programs/55plusv


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