The Disabled Veterans’ Exemption reduces property tax liability for qualified veterans. These veterans must have been rated 100% disabled or are being compensated at the 100% rate due to unemployment due to a service-connected injury or disease. Along with the disability requirements a veteran must be honorably discharged from one of the military services and served during specific time periods.

In order for property to qualify for the Disabled Veterans’ Exemption, it must be the principal place of residence of the veteran or the unmarried surviving spouse of a qualified disabled veteran. There are certain exceptions to this. One being that the veteran is confined to a hospital or other care facility and the property would be the veterans principal place of residence, if they were not in the hospital. Only that there is proof that the residence is not rented or leased. Property may be owned by the veteran, the veteran’s spouse, or jointly. An unmarried surviving spouse of a qualified veteran may also claim exemption.

The Disabled Veterans’s Exemption gives veterans more of an advantage as opposed to other exemptions such as the Veteran’s Exemption or the Homeownner’s Exemption. Therefore, a qualifying veteran who is a homeowner should choose the Disabled Veterans’ Exemption.

By choosing this exemption however, no other property tax exemptions are to be granted. The only exception to this is if two or more qualified veterans own a property in which they reside, then each veteran is entitled to the Disabled Veterans’ Exemption for his or her personal use.

Below is a list of the following benefits a qualifying disabled veteran, or a unmarried surviving spouse of a veteran  may claim:

  • An exemption from property taxation on that part of the full value of the residence that does not exceed $100,000 as adjusted for the assessment year
  • An exemption from property taxation on that part of the full value of the residence that does not exceed $150,000 as adjusted for assessment year, when the household income of the veteran does not exceed $40,000 (low-income exemption)

For more information on these exemptions please visit http://www.boe.ca.gov/proptaxes/dv_exemption.htm

 

The Chapman Lending Team at HomeBridge Financial is honored to help many veterans utilize their VA home loan benefit each and every year.  We ARE NOT a call center.  Our goal is to provide the best customer service in the industry along with the most competitive rates and fees.

Semper Fi, Dan Chapman CAPT, USMC (vet)

ChapmanTeam@HomeBridge.com          Call (760) 456-7139

Get a Free Rate Quote  –  Start an Online Application

Related Articles

Most veterans know they can purchase a home with ZERO down payment with a VA loan.  However, when refinancing with a VA loan, can one pull out 100% of the home's value? The short answer is yes, however, it does depend on the lender.  Many lenders have "overlays" capping the…
Read More of the post VA Home Loan 100% Cash-Out Refinance: How it Works, Get Rates and Apply

The 2019 VA Home Loan County Limits have been released. [caption id="attachment_108511" align="alignright" width="300"] 2019 VA Loan Limits Announced[/caption] For 2019, the ZERO down payment limit will increase to $484,350 for most counties. For some "high-cost" counties (table below) such as San Diego, the limit has increased from $649,750 to…
Read More of the post 2019 VA Home Loan County Limits Released

THE TAX BENEFITS OF BEING A HOMEOWNER When purchasing or selling a home, one should consider the many tax benefits.  Buying a home is usually the biggest investments a person will ever make. Due to various tax benefits put in place by the government to encourage consumers to purchase homes,…
Read More of the post BUT BAH IS NOT TAXED, CAN I STILL WRITE ALL THIS OFF ON MY TAXES???

As interest rates increase and the housing market slows down, wouldn't it be great if a home buyer could just take over a current low rate mortgage on a home?  Of course, and with the VA home loan, YES YOU CAN! Are VA loans assumable?   YES! Does the person assuming…
Read More of the post Are VA Loans Assumable? YES, and the Buyer doesn’t even have to be VA Eligible!