AB 1361: Property taxation: veteran’s exemption: preliminary application.

The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property, defined as the county assessors valuation of real property as shown on the 197576 tax bill and, thereafter, the appraised value of the property when purchased, newly constructed, or a change in ownership occurs after the 1975 assessment, subject to an annual inflation adjustment not to exceed 2%. Existing property law, pursuant to the authorization of the California Constitution, provides a disabled veterans tax exemption on specified property, as described. Existing law sets forth procedures to claim property tax exemptions.

This bill would authorize a county assessor to provide written or electronic determination of preliminary eligibility for the disabled veterans tax exemption. The bill would make related findings and declarations.

This bill would incorporate additional changes to Section 205.5 of the Revenue and Taxation Code proposed by SB 82 to be operative only if this bill and SB 82 are enacted and this bill is enacted last.