If you’re thinking about selling your Marin home and moving to one that better fits your life, take a moment to check your property tax bill. Does it show a Homeowners’ Exemption?
For an eligible primary residence, the exemption reduces assessed value by $7,000, saving about $70 a year. To receive the full annual exemption, Marin County says you must live in the home as your main residence on January 1 and file the claim by February 15. The county provides the claim form and filing details.
That modest annual saving is one reason to file. Another is that your home’s status as your primary residence matters if you later seek to transfer its property tax base.
Under Proposition 19, qualifying homeowners age 55 or older, severely disabled homeowners, and certain disaster victims may be able to transfer the assessed value of their original primary residence to a replacement primary residence anywhere in California. This is often what people mean when they talk about “taking their Prop 13 tax base with them.”
Here’s the key distinction: You do not have to have received the Homeowners’ Exemption on your original home to qualify for a Proposition 19 base year value transfer. California’s Board of Equalization says the home must have been eligible for the exemption because you owned and occupied it as your principal residence at the required time. If you never claimed the exemption, you may need other records to establish that residency.
So, before planning a move, check whether you have claimed the exemption and whether your property records reflect how you use the home. If you qualify but have not filed, submit Marin County’s claim form. Keep your records together, and ask the assessor about Proposition 19 eligibility and filing deadlines before you rely on an estimated tax bill for your next home.
A little preparation now can make the financial side of your move much clearer. If you’re weighing whether to stay, right-size, or move closer to family, I’m happy to help you think through the real estate options. You have all the control.
Kevin Kearney | Kearney Real Estate Group
