Bill > SB726

This bill would exempt from property taxation, up to $863,790 of the full value of a residence, property owned by and constituting the principal place of residence of a veteran who is 100% disabled due to injury or disease incurred during military service. The bill would also provide the same exemption to the unmarried surviving spouse of a deceased veteran who either qualified for the exemption during their lifetime or died from a service-connected injury or disease. The bill would require specific documentation to be provided to the county assessor to receive the exemption, and would prohibit any other real property tax exemption from being granted to the claimant. The bill would apply to property tax lien dates occurring between January 1, 2024 and January 1, 2034, and would require the State Board of Equalization to annually collect and report data on the exemption to the Legislature.