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$16.5M in property tax breaks for SF disabled veterans and their families

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$16.5M in property tax breaks for SF disabled veterans and their families

/ 02:40 AM November 11, 2017

 

INQUIRER FILE

SAN FRANCISCO – This year, the Office of the Assessor-Recorder granted over $9.6 billion in property tax exemptions to charitable organizations and qualified individuals, including $16.5 million to disabled veterans who own and live in their homes, which is a 12% benefit increase from last year.

 

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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 $196,262 worth of assessed value from their property’s total assessed value, saving up to $2,300 in their property taxes. In 2017, 151 applicants qualified for this program.

 

“Our veterans put their lives on the line for our country. Supporting them as they return home is very important. Property tax exemption is one way to help them directly,” 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. For more information on this exemption, please visit the Assessor-Recorder’s website at sfassessors.org.

There are over 210,000 parcels in the City and County of San Francisco with a cumulative value of $235 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.

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TAGS: property tax, property tax benefits for veterans and families, property tax exemptions, San Francisco Office of the Assessor-Recorder, taxation, The Disabled Veterans’ Exemption
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