A new bill moving through the State Senate would significantly increase tax relief for California seniors amid rising concerns about affordability across the state.
Senate Bill 566, introduced by Senator Shannon Grove (R-Bakersfield), proposes raising the state’s homeowners’ property tax exemption from $7,000 to $50,000. It would also expand the state renters’ tax credit, increasing it from $120 to $550 for joint filers and from $60 to $275 for individuals aged 62 and older.
The exemption and credit amounts have not been updated since the 1970s. Supporters of the bill say these long-overdue adjustments are necessary, especially as seniors face growing pressure from rising prices on basic necessities like food, fuel, utilities, and insurance.
“For retirees on fixed incomes, these rising costs have become unsustainable. SB 566 provides timely, targeted relief,” stated Aidan Chao, Chairman of the Los Angeles County Taxpayers Association, which formally endorsed the bill this week.
The proposed law is likely to draw close attention from taxpayer organizations and senior advocates across the state, especially as affordability continues to dominate conversations in the Capitol. A committee hearing is expected in the coming weeks.
