CA SB690

Creates property tax relief for senior veterans aged 65+ by exempting their principal residence from annual inflation adjustments on assessed value, effective January 1, 2017, if they were honorably discharged and meet household income limits ($50,000 single, $100,000 married).

Expands disabled veterans' property tax exemption to cover the full value of their principal residence (instead of just $100,000) if household income does not exceed $40,000 adjusted for inflation, effective January 1, 2017.

Applies the same inflation factor freeze for qualified senior veterans who own manufactured homes as their principal residence, with identical income and discharge requirements.

Prohibits state reimbursement to local agencies for property tax revenue losses resulting from these exemptions, contrary to standard state mandate reimbursement requirements.

Takes effect immediately as a tax levy measure.