California SB888 amends property tax exemptions for disabled veterans and their surviving spouses.
California SB888 modifies property tax exemptions for disabled veterans and their surviving spouses. It raises the exemption amount from $100,000 to $150,000 for eligible veterans and surviving spouses with a household income of $40,000 or less. The bill also allows for annual inflation adjustments to the exemption amounts and household income limits. It specifies that the exemption applies to property owned by the veteran or their spouse, including jointly owned property and corporate property where the veteran or spouse is a shareholder.
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