Every year, more than 400,000 homeowners in Los Angeles County leave money on the table—$70, to be exact. It may not sound like much, but it's a benefit that’s automatic once you apply and lasts as long as you own your home.

What’s this overlooked deal? It’s called the Homeowners' Exemption, and it's one of California’s most underused tax breaks.

💡 What Is the Homeowners’ Exemption?

The Homeowners' Exemption is a property tax discount available to California homeowners who live in their property as their primary residence. It gives you a $7,000 reduction in the assessed value of your home, which translates to about $70 off your annual property tax bill.

Apply once, and the savings continue automatically every year—no renewal required.

📊 How Many Angelenos Skip It?

A 2024 report from the LA County Assessor revealed a surprising fact: 1 in 3 LA homeowners haven’t claimed the exemption. That’s more than 435,000 households missing out on a benefit designed for them.

Collectively, that’s over $30 million in unused savings every year.

❓ Why Do So Many Miss It?

There are a few reasons:

• They don’t know it exists: Many buyers, especially first-timers, never learn about it.
• It’s not automatic: You must actively file the form with the Assessor’s Office.
• They think it’s not worth the effort: $70 may seem small, but it adds up—especially since it lasts indefinitely.
• They miss the deadline: To receive the full benefit for the year, you must apply by February 15.

🏠 Who Qualifies?

To claim the exemption, you must:

• Own and occupy the property as your principal residence as of January 1st of the tax year.
• File the claim with the County Assessor (just once—no annual renewal needed).
• Not already receive the exemption on another property.

📥 How to Apply

• Visit the LA County Assessor's website.
• Download and complete the Homeowners' Exemption Claim Form.
• Submit it by February 15 to receive the full $70 deduction for the upcoming tax year.

🧠 Why It Matters

Yes, $70 per year isn’t life-changing on its own. But:

• That’s $700 over 10 years.
• It’s free money for doing what you’re already doing—living in your home.
• It only takes 5 minutes to claim.
• If you miss it year after year, you're unnecessarily overpaying.

✅ Bottom Line

If you bought a home in LA County and it’s your primary residence, check if you’ve claimed the Homeowners’ Exemption. If not, apply now and lock in your annual savings. It's one of the easiest wins in real estate—and yet 1 in 3 still miss it.

Don’t be one of them. File once, save every year. Your future self will thank you.