If enacted, this bill would amend current statutes regarding property tax exemptions for veterans and their surviving spouses. Specifically, it would introduce a new provision that fully exempts the property of veterans with a service-connected disability rated at 100 percent from taxation. Additionally, the surviving spouse of such a veteran would be allowed to continue claiming this full exemption as long as they do not remarry and the property remains their primary residence. The bill would also exempt veterans with nonservice-connected disabilities rated at 100 percent or less, or those with service-connected disabilities rated below 100 percent, from the requirement to have their property valued below a certain assessment limit to qualify for an exemption.

Furthermore, the bill would expand the definition of "income from all sources" for the purpose of determining eligibility for the exemption by excluding payments from any veterans pensions, rather than just veterans disability pensions. It would also make technical and conforming changes to existing statutes, including adjustments to the exemption amounts and income limits. Overall, these updates aim to enhance the property tax benefits available to veterans and their families, reflecting a commitment to support those who have served in the military.

Statutes affected:
Introduced Version: 42-11111
House Engrossed Version: 42-11111