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Understanding a Declaration of Homestead and a Homeowners Exemption

Question: What is the difference between filing a Declaration of Homestead and a Homeowners Exemption? My home is in Los Angeles County. Can I use these documents on a deed-restricted property located in a common interest development with a homeowner association and the covenants, conditions and restrictions? Are there any other exemptions I might qualify for to reduce property taxes? Answer: Declaration of Homestead and a Homeowners Exemption are different legal documents with different functions. Both can be used on a deed-restricted property located in a common interest development. The Declaration of Homestead is designed to protect a portion of your home's equity from...

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