This bill amends the property tax exemption laws for disabled veterans, their surviving spouses, and minor dependent children. It allows property owned by a revocable or irrevocable trust, as well as a limited liability company, to qualify as a homestead for the purposes of this exemption under specific conditions. The definition of "homestead" is expanded to include not only the dwelling and up to forty acres of contiguous property but also properties owned by these entities, provided they are used as the principal residence of the disabled veteran.

Additionally, the bill introduces new requirements for disabled veterans seeking to claim the exemption for properties owned by irrevocable trusts or limited liability companies. They must provide a signed, notarized, and file-marked copy of the trust or proof of eligibility to the county collector. The amendments will take effect for assessment years beginning on or after January 1, 2026.

Statutes affected:
Old version HB1809 Original - 3-17-2025 01:23 PM: 26-3-306(a), 26-3-306(b)
Old version HB1809 V2 - 4-2-2025 09:59 AM: 26-3-306(a), 26-3-306(b)
HB 1809: 26-3-306(a), 26-3-306(b)
Act 880: 26-3-306(a), 26-3-306(b)