SACRAMENTO
– George Runner announced today he is sponsoring legislation to enhance
tax benefits for California’s disabled veterans.
SB 1113, authored by Senator Steve
Knight (R-Antelope Valley), will help ensure that disabled veterans who
encounter bureaucratic delays can still claim a key property tax
exemption.
“These
brave men and women have sacrificed greatly for our country and should
not be penalized by a slow bureaucratic process,” said Runner. “This
legislation is necessary
to give veterans better access to the full benefit offered to them by a
grateful state.”
Under
California law, veterans who receive a 100% disability rating from the
U.S. Department of Veterans Affairs (VA) may be eligible for a property
tax exemption on the value
of their home up to $124,932 or $187,399 in 2014 and equivalent amounts
adjusted for inflation in future years. The exemption starts on the
date of disability and disabled veterans may claim a refund for up to
four years of back taxes paid.
Unfortunately,
due to VA backlogs, some veterans have had to wait more than four years
to receive their disability rating certifications. As a result, they’ve
missed out on
thousands of dollars in property tax refunds to which they were
entitled and anticipated receiving.
SB
1113 would increase the availability of refunds on taxes previously
paid from four years to eight years, allowing veterans to receive the
full benefit of their exemption,
even if the rating process takes more than four years to complete.
“Veterans
wounded in the defense of our country have earned more than our
appreciation and respect,” said Knight. “I am proud to author SB 1113 to
ensure they have access to
the tax benefits they deserve.”
SB 1113, currently sponsored by Runner, will be considered for sponsorship by the full Board of Equalization at its March 25 hearing.
Elected
in November 2010, George Runner represents more than nine million
Californians as a member of the State Board of Equalization. For more
information, visit
www.boe.ca.gov/Runner.
