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PRESS RELEASE
FOURTH OF JULY HOLIDAY SPOTLIGHTS DISABLED VETERAN'S TAX SAVINGS
More Than 700 Disabled Vets Benefited from Property Tax Savings in 2023
Placerville California, July 1st, 2024
El Dorado County, CA - As we prepare to celebrate this Fourth of July holiday, El Dorado County Assessor Jon DeVille is reaching out to disabled veterans throughout the County to remind them that they may qualify for a significant property tax savings.
The Fourth of July holiday celebrates our country’s independence. Those who have served have made the ultimate sacrifice to defend our nation and preserve our freedom. We honor these heroes, especially those who lost their lives or sustained life-altering injuries in battle.
"As we celebrate the USA’s independence and honor the brave men and women of the military, I want to share information about property tax exemption programs for disabled veterans that can save them money." Assessor DeVille said.
The Disabled Veterans’ Property Tax Exemption reduces the assessed value on the property tax for the veteran's primary residence, if they are rated 100% disabled or receive compensation at the 100% rate due to being unable to work. The unmarried surviving spouse of a qualified veteran can also claim the exemption.
A veteran must have been injured during their military service that resulted in specified injuries and/or being totally disabled. The disability rating must be issued and verified by the Department of Veterans Affairs. To receive the full savings, a claim must be filed by February 15, annually.
More than 700 disabled veterans took advantage of the exemptions last year, which resulted in over $1 million in tax savings in 2023.
Many are unaware that there are two different types of this Disabled Veterans' Exemption: the basic exemption and the low-income exemption. The basic exemption amount for 2024 is $169,769, which translates to a possible property tax savings of approximately $1,700.
The low-income exemption is available to qualifying claimants whose annual household income does not exceed a specified income limit. For 2024, the low-income exemption amount is $254,656 and the annual household income limit is $76,235. The amount of the exemption increases each year based on inflation. That translates to about $2,500. Once again, for more information on the Disabled Veterans’ Exemption please visit our website here: El Dorado County Assessor's Office
"As we reflect on the USA’s celebration of Independence Day, we honor and recognize our veterans. Their bravery and sacrifices have secured the freedoms we cherish today. Thank you for your service and dedication to our country." Assessor DeVille said. "Our Democracy is built on your service."
Full Resource Links:
BOE-261-G, Claim for Disabled Veterans' Property Tax Exemption
July 2024 - Veterans' Tax Savings(PDF, 272KB)
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