El Dorado County: Homeowners exemption filing deadline is Feb. 15 | TahoeDailyTribune.com
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El Dorado County: Homeowners exemption filing deadline is Feb. 15

The El Dorado County assessor reminds new homeowners about the homeowner’s exemption filing deadline and the lowering of assessments because of market decline.

The deadline to file new applications for the homeowner’s exemption is Feb. 15.

The property owner must complete and submit a simple application form within the prescribed time limits in order to qualify for the $7,000 exemption, said County Assessor Tim Holcomb.



“Generally, this only applies to people who bought a house in 2007 and somehow didn’t get the application filed at the time of purchase,” Holcomb stated. “In many cases, there is paperwork in the closing papers, but it often gets overlooked.”

Holcomb went on to state that his office routinely mails applications as part of the Change in Ownership processing. For people who have owned their home for several years, one way to check is to look at your 2007/2008 tax bill and see if it shows the exemption.



Property owners who are not sure about their status should contact the Assessor’s Office.

The Assessor can also be contacted through the County’s web site located at http://www.co.el-dorado.ca.us/assessor.

Holcomb adds his office wants to get the exemption applications processed early to make sure homeowners get the full benefit and also to clear the way for the staff to work on evaluating base year values in light of the current real estate market.

 

“Last spring, and again this year, we will be proactive in analyzing neighborhoods and regions for market trends.” Holcomb explained. “Each property owner is entitled to be assessed at the lower of the trended base year value or the market value as of Jan. 1.”

Holcomb stated that the market appears headed toward 2004 levels and anyone who purchased after that may have seen a decline in value. That would entitle them to the relief benefits of Prop 8, a measure passed shortly after Proposition 13.  

The Assessor’s Office is lowering assessments of properties it has found in this category as well as those brought to its attention through the property owner requests process. Applications are available on-line or requests can be made by letter, telephone call, or e-mail.

Contact Assessor Tim Holcomb at (530) 621-5719 or email, tholcomb@co.el-dorado.ca.us

       


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