$18 Million in Property Tax Value Exempted to Benefit Veterans and their Families
***PUBLIC SERVICE ANNOUNCEMENT***
$18 MILLION IN PROPERTY TAX VALUE EXEMPTED
TO BENEFIT VETERANS AND THEIR FAMILIES
SAN FRANCISCO – This year, the Office of the Assessor-Recorder granted over $13 billion in property tax exemptions to charitable organizations and qualified individuals, representing a 37% growth compared to last year. Of the total, $18 million in exemptions were granted to disabled veterans who own and live in their homes, a 9% increase from the year before.
The Disabled Veterans’ Exemption is a state-wide program administered by local County Assessors. It helps qualified disabled veterans to save on property taxes by deducting up to $202,060 worth of assessed value from their property’s total assessed value, saving up to $2,350 in their property taxes annually. In 2018, 153 applicants qualified for this program.
“Our veterans have sacrificed and served in the protection of our democracy. Coming home is not always easy, especially for our veterans injured on duty. One way we can help is through property tax relief. We want to make sure every eligible veteran knows and applies for this program,” said Assessor Carmen Chu, whose office is responsible for granting tax exemptions to benefit charitable organizations such as community non-profits, schools, hospitals, as well as individuals such as homeowners and veterans.
Qualifying veterans must have been disabled due to a service-related injury or disease while in the armed forces, and must be a resident of California. The disabled veteran or a disabled veteran’s spouse must own and occupy the property as their principle residence.
“It is great to know property tax relief is available for those who need it most,” said William Barnickel, San Francisco Veteran Affairs Commissioner and veteran. “Support like this can certainly help our veterans stay in their homes, I am glad our Assessor knows how important it is to bring this information to our local veteran communities,” he said.
There are over 211,000 parcels in the City and County of San Francisco with a cumulative value of $260 billion. The Office of the Assessor-Recorder is responsible for establishing a taxable value for each of those parcels. Property taxes represents approximately one-third of San Francisco’s General Fund revenues, supporting local services such as public safety, health, social and neighborhood services. For more information on the Disabled Veteran’s Exemption, please visit the Assessor’s website at sfassessors.org.