Proposed constitutional amendment to remove property value limits on veterans' exemptions.

ACA 5 proposes to amend the California Constitution to remove property value limits on veterans' exemptions. The amendment would allow a dwelling to receive both the veterans' exemption and the homeowners' exemption. It would also authorize the Legislature to exempt property eligible for the veterans' exemption in an amount up to the full value of the property. If the Legislature increases the homeowners' exemption, it would require the same increase in the veterans' exemption, except as limited by the full value of the property.

Proposed constitutional amendment to remove property value limits on veterans' exemptions.

ACA 5 proposes to amend the California Constitution to remove property value limits on veterans' exemptions. The amendment would allow a dwelling to receive both the veterans' exemption and the homeowners' exemption. It would also authorize the Legislature to exempt property eligible for the veterans' exemption in an amount up to the full value of the property. If the Legislature increases the homeowners' exemption, it would require the same increase in the veterans' exemption, except as limited by the full value of the property.