Q: Claim Homeowner exemption on deceased parent's home
My father passed away in October, 2020. He is a resident in Santa Barbara County. I have a probate case filed with probate branch in Santa Barbara County. I received a Homeowner Exemption termination Notice from county assessor's office. I live in Texas. I would like to know which option shoud I check on the form which give me the best rate in terms of property tax when I inherite his home? Should I wait until probate case closed, then return this form back to assessor's office?
1. I do not occupy the property as a principla residence
2. This property is a rental, vacation or secondary home
3. this property is vacant or unoccupied
4. The property owner is deceased.
My dad's current property tax is $4400 for year 2020. When the property get re-assessed how much more I need to pay in terms of property? Your insights and suggestion is greatly appreciated!
A: Since your father passed away before 2/15/2021, you should qualify for the parent to child reassessment exemption under California Prop 13/58 regardless of whether this is your principal residence, a second home, rental home, or commercial property. The homeowner exemption merely reduces your assessed value by another $7,000/year, which translates to an annual $84/year tax savings assuming a 1.2% tax rate. If you’re not living in the property, don’t claim it as your principal residence.
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