CA AB2898

Increases disabled veterans' principal residence property tax exemption from $100,000 to $200,000 for lien dates on or after the bill's effective date and before January 1, 2033.

Increases the exemption to $300,000 (from $150,000) for eligible veterans whose household income does not exceed $40,000, adjusted annually for inflation.

Extends the same increased exemptions to unmarried surviving spouses of deceased veterans who meet specified service-connection or disability requirements.

Requires the State Board of Equalization to submit annual reports by July 1 of each year through 2033 detailing the number of qualified applicants and tax revenue foregone in each city and county.

Specifies that the state shall not reimburse local agencies for property tax revenues lost due to these increased exemptions, effective immediately as a tax levy.