As a homeowner I expect you like to not pay more than your fair share of property taxes. Goodness knows they are high enough as it is, and if you are in a newer Carlsbad subdivision you may also be paying Mello Roos taxes (which can be hundreds or even thousands of dollars per year) on top of your property taxes and your HOA fees. Yikes.
I recently wrote about property taxes here in Carlsbad, and San Diego County in general. If you are concerned about not overpaying, or you don't know the basics about your property taxes (as either a new homeowner, seasoned resident, or a first time buyer) I strongly urge you to take a look. It could cost you some bucks not to.
Here's something else you should know about your home's property taxes.
Do you qualify for the Homeowner's Property Tax Exemption? Do you even know what it is?
- The exemption allows for a $7,000 reduction in the assessed value of your home (which means about $70 saving in property taxes - yeah, it's not much but why not in your pocket instead of theirs?)
- You can qualify if you are the property owner and occupy your home as the PRINCIPAL place of residence on January 1 of that year, and each year after
- While the form is automatically mailed when there is an ownership change, you can get a form on the Assessor's website.
- There is no fee. Check your last bill to see if you are already getting this exemption or not.
- You should file by February 15 to receive the full reduction. Late filing runs from Feb. 15 until Dec. 10 (for an 80% reduction or $56). You will get the full exemption after the first year and do not need to file again.
- There is no provision for obtaining the exemption for prior years - when you snooze you lose.
- You are required to provide you SS# so they can determine that only 1 exemption is being received. And, no, you cannot receive exemptions on more than one house - you are limited to one, and it must be your principal residence.
So get the money you are due. Check to see if YOU are getting this important expemption or not.