The sum of 25 percent of the taxable value of taxable assets and 100 percent of the current full cash value as defined in Revenue and Taxation Code Section 110 for non-taxable assets will determine the limitation for the veterans' property tax exemption.
Cal. Code Regs. Tit. 18, § 149
Note: Authority cited: Section 15606(c), Government Code. Reference: Sections 110, 110.1 and 205.1, Revenue and Taxation Code.