Bill > SB623

This bill proposes to modify property tax exemption rules in California, specifically allowing homeowners who are also veterans or disabled veterans to receive both the homeowners' exemption and the veterans' exemption, which is currently prohibited. Currently, property owners can receive a $7,000 homeowners' exemption on their primary residence, and veterans can receive a separate $4,000 or disabled veterans can receive a $100,000-$150,000 exemption. The bill is contingent on a related Senate Constitutional Amendment being approved by voters in the November 3, 2026 statewide election. If approved, starting January 1, 2027, veterans and disabled veterans would be able to claim both exemptions on their primary residence. The bill also stipulates that local agencies will not be reimbursed for any property tax revenues lost due to this change and that the bill takes effect immediately as a tax levy. The Secretary of State is specifically required to submit the related constitutional amendment to voters at the 2026 general election, despite potential conflicts with existing election laws. This change aims to provide additional tax relief for veterans and disabled veterans who own homes in California.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB623