Runner Proposes Tax Help for Disabled Veterans
By Anonymous — Tuesday, March 18th, 2014
SACRAMENTO, CA – 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. |