Los Angeles — The City of Los Angeles has proclaimed January as Homeowners’ Exemption Awareness Month. Assessor Jeffrey Prang joined Members of the Los Angeles City Council and spoke to homeowners about this and other savings programs. The Homeowners’ Exemption reduces the taxable portion of a property’s assessed value by $7000, thereby lowering the annual property tax bill by $70 each year. Estimates show that more than 134,000 Angelenos do not file for this exemption, leaving $9.5 unclaimed each year.
Councilmember Gil Cedillo, who organized the presentation, joined Assessor Prang in urging homeowners to apply for this savings program. To find out if you already claim this exemption, simply visit the Assessor Portal, enter your address, and look for the letters HOX in the Exemptions category. Homeowners need only apply once in order to receive these savings each year.