California SB56 amends the Revenue and Taxation Code to adjust the disabled veterans’ tax exemption and household income limits.

California SB56 amends the Revenue and Taxation Code to adjust the disabled veterans’ tax exemption and household income limits. It exempts from taxation part of the full value of property owned by disabled veterans and their surviving spouses, provided the property is their principal residence and certain conditions are met. The exemption amount is adjusted annually based on the California Consumer Price Index. Household income limits are also adjusted annually and exclude service-connected disability payments.

California SB56 amends the Revenue and Taxation Code to adjust the disabled veterans’ tax exemption and household income limits.

California SB56 amends the Revenue and Taxation Code to adjust the disabled veterans’ tax exemption and household income limits. It exempts from taxation part of the full value of property owned by disabled veterans and their surviving spouses, provided the property is their principal residence and certain conditions are met. The exemption amount is adjusted annually based on the California Consumer Price Index. Household income limits are also adjusted annually and exclude service-connected disability payments.