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, allowing them to retain their property without the financial burden of taxation. 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.

Additionally, the resolution outlines that the exemption would apply to tax years beginning January 1, 2027, and it would eliminate certain income and property assessment limits for qualifying veterans. The estimated cost to the state General Fund is projected to be $2.2 million starting in FY 2028, although this cost may be partially offset by savings from automatic school tax rate adjustments. The Secretary of State is tasked with submitting this proposition to voters at the next general election, and the measure will only take effect if it receives voter approval and is proclaimed by the Governor.

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