SACRAMENTO – Today Assemblyman Josh Hoover (R-Folsom) announced the passage of Assembly Bill 1361 (Hoover) from the Assembly Floor, a bill he authored to allow 100% permanent and disabled California veterans access to a property tax exemption prior to taking ownership of a home.

“Our state’s disabled veterans have sacrificed so much for our country and freedoms, the least we can do is give them greater access to a tax exemption that they already qualify for,” said Assemblyman Hoover. “Fixing this loophole in the law will provide financial relief to veterans and enhance their buying power when purchasing a home.”

The veteran property tax exemption already exists in the State Constitution, but veterans cannot qualify for it until after they own the home. During the underwriting process, taxes that veterans do not owe are collected and counted against them when qualifying for a mortgage.  This means that thousands of dollars are collected at closing that will simply be refunded back to them at a later date. This places unnecessary burdens on veterans and decreases their buying power. AB 1361 would streamline this process by allowing them access to the credit prior to closing on the home.

Josh Hoover represents Assembly District 7, which includes the cities of Citrus Heights, Folsom, and Rancho Cordova and the unincorporated communities of Carmichael, Fair Oaks, Foothill Farms, Gold River, Mather, McClellan Park, North Highlands, Orangevale, and Rosemont.