L.A. County Assessor Jeffrey Prang and Board of Supervisors Declare January Homeowners’ Exemption Aw
L.A. County Assessor Jeffrey Prang and Board of Supervisors Declare January Homeowners’ Exemption Awareness Month to Promote Property Tax Savings LOS ANGELES, CA – Assessor Jeffrey Prang and the Board of Supervisors of the County of Los Angeles have proclaimed January as Homeowner Exemption Awareness Month.
The countywide initiative aims to promote the property tax savings program and is part of the Assessor’s broader efforts to raise awareness about ways in which Los Angeles County property owners can save on annual tax bills.
“Nearly one in three homeowners in Los Angeles County do not take advantage of this tax savings program, leaving $30 million unclaimed each year,” said Assessor Prang. “Across the County, an additional 435,000 families can be saving on their tax bills.” This exemption reduces a property’s taxable assessed value by $7000, provided that the property is the owner’s principal place of residence as of January 1st. The result is a $70 savings on the annual tax bill.
Homeowners need only apply once in order to receive these savings each year. Savings continue until a change (such as a sale) is recorded. In addition to County efforts, Assessor Prang is partnering with officials in all 88 cities to facilitate similar outreach. Although the largest number of unclaimed exemptions fall within the City of Los Angeles, the highest rates of unclaimed exemptions are in Palmdale (46%), Lancaster (44%), Lynwood (42%), Pomona (41%), and Norwalk 39%.
The Homeowners’ Exemption claim form and filing information are available here. An informational video can be accessed here. For additional property tax relief programs, including disaster relief for properties that sustained damage during the recent wildfires or flooding, visit assessor.lacounty.gov/exclusions-tax-relief or call 213/974-3211.