Assessor Prang Reminds Disabled Vets Property Tax Savings Available

LOS ANGELES, CA -  As we prepare to celebrate this Memorial Day weekend, Los Angeles County Assessor Jeff Prang is reaching out to disabled veterans throughout the County to remind them that they may qualify for a significant property tax savings.

Memorial Day is for honoring the men and women who paid the ultimate sacrifice while defending our country. We commemorate those heroes, especially those who lost their lives or sustained life-altering wounds in battle. 

"At the same time as we honor those brave men and women of the military, I wanted to share programs for disabled veterans that can save them money on their property tax bills," Assessor Prang said.

The Disabled Veterans’ Property Tax Exemption reduces the assessed value on the property tax for the veteran's primary residence, if they are rated 100% disabled or receive compensation at the 100% rate due to being unable to work. The unmarried surviving spouse of a qualified veteran can also claim the exemption.

A veteran must have been injured during their military service that resulted in specified injuries and/or being totally disabled. The disability rating must be issued and verified by the Department of Veterans Affairs. Although there is no time limit to file a claim, only up to eight years of the exemption is retroactively refundable. To receive the full savings, a claim must be filed by February 15.

More than 5,000 disabled veterans took advantage of the exemptions last year, which resulted in a total savings of $7.8 million for 2023.

Many are unaware that there are two different types of this Disabled Veterans' Exemption: the basic exemption and the low-income exemption. The basic exemption amount for 2024 is $169,769, which translates to about $1,700 taken off the property tax bill.

The low-income exemption is available to qualifying claimants whose annual household income does not exceed a specified income limit. For 2024, the low-income exemption amount is $254,656 and the annual household income limit is $76,235.The amount of the exemption increases each year based on inflation. That translates to about $2,500 off the property tax bill. Once again, for more information on the Disabled Veterans’ Exemption please visit our website here.

"We owe a tremendous debt to our veterans and everyone in the Assessor’s Office says thank you for all that you’ve done, all that you do, and all that you will do," Assessor Prang said.  "Our Democracy is built on your service."