The resolution H.C.R. 2023 proposes a property tax exemption for combat veterans who have a combat-related, service-connected disability rated at 100% by the U.S. Department of Veterans Affairs. If approved by voters, this measure would exempt such veterans from the full amount of property tax, thereby alleviating their financial burden. The resolution also stipulates that the amount raised by local governments through primary property taxes cannot include any amount intended to offset the exemptions provided for these veterans. The exemption is set to apply to tax years beginning January 1, 2027, and would require voter approval at the next general election.

Additionally, the resolution outlines that combat veterans qualifying for this exemption would not be subject to the statutory income limit or the requirement for their property to be valued below a certain assessment limit. The fiscal impact of this measure is estimated to cost the state General Fund approximately $2.2 million starting in FY 2028, although this cost may be partially offset by savings from automatic school tax rate adjustments. The resolution also includes provisions for technical changes and mandates that the Secretary of State submit the proposition to voters.

Statutes affected:
Introduced Version: 42-11111, 42-17151, 42-11152, 32-1601
House Engrossed Version: 42-11111, 42-17151, 42-11152, 32-1601