If you just bought a home in Placentia, Brea, Yorba Linda, Fullerton or any other community in California and are looking for any savings that will help you keep your monthly expenses down, start by filing for your homestead exemption with your Tax Assessor's office.
The homestead exemption is a reduction of $7,000 in your tax base as long as the home is your primary residence. This exemption is not an automatic exemption you must file for it and will only take effect on the year of the next tax assesment.
Usually the exemption will not result in anything dramatic but any possible savings that you can get your hands on will help balance your family's budget in times like the ones we are living in.
If you have any questions contact me or visit your tax assessor's website.