Politics & Government
Bill by Local State Senator Aims to Cap Veterans' Property Taxes
State Sen. Jeff Stone's SB 1104 was approved by a Senate committee this week.
By City News Service:
RIVERSIDE, CA - A bill by state Sen. Jeff Stone seeking to cap property taxes paid by aged veterans and completely exempt disabled veterans from paying any property taxes was approved by a Senate committee this week.
Senate Bill 1104 received unanimous support in the Senate Government & Finance Committee and is now bound for the Senate Appropriations Committee.
The bill exempts disabled veterans from paying property tax while honorably discharged veterans who are 65 years or older would have their property tax frozen at the rate in effect when they turn 65, or after Jan. 1, 2017 -- whichever is later.
Senator Stone’s bills to assist veterans and seniors receives bipartisan support from CA Senate Republican Caucus on Vimeo.
State law currently provides a "disabled veterans' exemption," but it comes with conditions.
According to the California Board of Equalization, veterans who are blind, missing limbs or suffering other handicaps stemming from military service can apply for an exemption on $150,000 of the assessed value of their principal residence.
However, only veterans earning less than $40,000 a year are eligible for that. Veterans earning more than that amount can only receive an exemption on the first $100,000 of their assessed value.
The values are adjusted annually for inflation.
The BOE said there are 37,653 veterans statewide who receive these exemptions, most of them in Sacramento, San Bernardino and San Diego counties.
Veterans 65 and older who are not disabled, currently have no exemption options.
Stone, R-Palm Desert, said SB 1104 was motivated by a desire to keep veterans from losing their homes and becoming homeless. He pointed to statistics indicating that 1.4 million veterans nationwide are "at risk of homelessness."
The California Commission on Aging pledged support for SB 1104. The California Tax Reform Association opposes it.
"Veterans have done so much for their country," Stone said. "And in return, local, state and the federal government needs to do everything they can to help them succeed."
(Image via Shutterstock)
