TITLE
Recommendation to request City Attorney to draft a resolution in support of Homeowners' Exemption Awareness Month.
DISCUSSION
The California State Constitution provides a $7,000 reduction in the taxable value for a qualifying owner-occupied home, which must have been the principal place of residence of the owner on the lien date. To claim the exemption, the homeowner must make a one-time filing of a simple form with the county assessor where the property is located. A person filing for the first time on a property may file any time after the property or claimant becomes eligible, but no later than February 15 to receive the full exemption for that year.
The Office of the Los Angeles County Assessor, responsible for locating all taxable property in the County and establishing its value, with 2.6 million assessments, is focusing on increasing public education, awareness and outreach about property tax exemptions and exclusions and about how property owners can obtain important property tax-related documents easily online.
The City of Long Beach is being asked to join Los Angeles County Assessor Jeffrey Prang and the Los Angeles County Board of Supervisors in proclaiming January 2016 as "Homeowners' Exemption Awareness Month." Far too many residents are unware of the Homeowners' Exemption that can reduce the taxable value oftheir property by $7,000, which helps them to save money on their annual property tax bill.
FISCAL IMPACT
There is no fiscal impact.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
STACY MUNGO
COUNCILWOMAN, FIFTH DISTRICT
SUZIE PRICE
COUNCILWOMAN, THIRD DISTRICT
DARYL SUPERNAW
COUNCILMEMBER, FOURTH DISTRICT
AL AUSTIN
COUNCILMAN, EIGHTH DISTRICT