California BOE Issues Information on Disabled Veterans’ Property Tax Exemption Increase for 2020

The California Board of Equalization (BOE) May 17 issued a letter to county assessors regarding the disabled veterans’ property tax exemption increase for 2020. Cal. Rev. & Tax Code Section 205.5 provides that the exemption amounts and the household income limit for the disabled veterans’ exemption shall be compounded annually by an inflation factor. For each assessment year, the inflation factor shall be the annual percentage change, measured from February to February of the two previous assessment years, rounded to the nearest one-thousandth of 1 percent, in the California Consumer Price Index for all items, as determined by the California ...