Los Angeles County Assessor Jeffrey Prang reminded homeowners Tuesday to apply for an exemption that can save them roughly $70 every year on their property taxes.
The assessor's office estimates that nearly 400,000 homeowners have failed to take advantage of the savings.
"I am making every effort to inform taxpayers about this important tax savings available for homeowners," Prang said, noting that the Board of Supervisors declared January as Homeowners' Exemption Month.
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"This exemption can be especially beneficial to low-income homeowners and those on fixed incomes," he said. "Every homeowner should apply."
While $70 may seem inconsequential to some, Prang noted that over 10 years, it amounts to $700, roughly the price of a new water heater.
The exemption applies to homes that serve as a principal place of residence, rather than a vacation or second home, and amounts to a $7,000 deduction from the home's assessed value.
The assessor also warned residents against fraudsters who offer to file an exemption for a fee. There is no filing fee, no need to re-apply once qualified and county employees are happy to help homeowners with the process, Prang said.
More information and the form to make a claim can be found here or by calling (213) 974-3211 or (888) 807-2111.
The simple one-page form should be filed by Feb. 15 in order to get the full exemption.