CA SB726

Creates property tax exemption for residences owned by 100% disabled veterans, their spouses, or both, exempting up to $863,790 of assessed value for tax lien dates from January 1, 2024 through December 31, 2033.

Qualifies veterans who are blind in both eyes, have lost use of two or more limbs, or are totally disabled as a result of service-connected injury or disease, with disability rating of 100% from the U.S. Department of Veterans Affairs.

Extends exemption to unmarried surviving spouses of deceased veterans who qualified or would have qualified for the exemption, provided the veteran died from a service-connected disability or was a California resident at death.

Exemption amount adjusts annually for inflation based on the California Consumer Price Index and cannot be combined with other veteran property tax exemptions under state law.

Exemption expires January 1, 2034, and requires State Board of Equalization to annually report exemption data to the Legislature; the state shall not reimburse local agencies for lost property tax revenue.