Property taxation: veteran's exemption: preliminary application.

The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property, defined as the county assessor's valuation of real property as shown on the 1975–76 tax bill and, thereafter, the appraised value of the property when purchased, newly constructed, or a change in ownership occurs after the 1975 assessment, subject to an annual inflation adjustment not to exceed 2%. Existing property law, pursuant to the authorization of the California Constitution, provides a disabled veteran's tax exemption on specified property, as described. Existing law sets forth procedures to claim property tax exemptions.