Property taxation: exemptions.

The California Constitution provides that all property is taxable, and requires that it be assessed at the same percentage of fair market value, unless otherwise provided by the California Constitution or federal law. The California Constitution and existing property tax law provide various exemptions from taxation, including, among others, a homeowners' property tax exemption and a veterans' exemption. This bill would state the intent of the Legislature to enact legislation that would allow individuals to claim both the homeowners' property tax exemption and the veterans' exemption.