I recieved a letter that says
"The exemption is allowed under California law (Revenue and Taxation Code Section 218) and when granted will reduce the taxible valuation of your property by at least $5600 each and every year that you own and live in your property. This will reduce your annual tax bill from it's current level."
The advantage of doing this is for $25.00 it will lower my property taxes every year but is there any disadvantages? There are no plans on renting or selling my house nor do I do any business from home.
2007-07-17 22:30:13 · 3 answers · asked by stolsai 5 in Business & Finance ➔ Taxes ➔ United States
Sounds like you received something from a company in the mail.
You can file for a homeowners exemption by yourself, there is no fee. Check with your County Assesors office.
The actual amount of tax is not alot but it is a savings. take it.
2007-07-18 06:31:42 · answer #1 · answered by Tim 7 · 0⤊ 0⤋
in case you very own a house worth $200k and installation a $50k image voltaic PV array, your place's assessed fee might routinely be greater to $250k and you may pay greater components tax. This exemption ensures that your image voltaic PV array isn't taxed, so your place's assessed fee might proceed to be at $200k.
2016-10-21 21:40:12 · answer #2 · answered by hilderbran 4 · 0⤊ 0⤋
No disadvantage - take it!
2007-07-18 03:35:20 · answer #3 · answered by Judy 7 · 0⤊ 0⤋