California Homeowner’s Exemption vs. California Homestead Exemption
What’s the difference between the “California homeowner’s exemption” and the “California homestead exemption”?
Homeowner’s Exemption
What is a homeowner’s exemption? A homeowner’s exemption is just a property tax exemption. The California state constitution provides for the exemption of up to $7,000 in assessed value from property tax assessment of any property owned and occupied as the owner’s principal place of residence. This means that the exemption removes up to $70 from your annual property tax bill. This may not seem like much, but it’s easy to obtain, and it adds up! There’s no reason to forgo the benefit.