The proposed bill, if enacted, would amend current statutes regarding property tax exemptions for veterans and their surviving spouses. Under the new provisions, C. The property of a veteran with a service connected disability whose disability rating by the United States department of veterans affairs is one hundred percent is fully exempt from taxation. A surviving spouse of a veteran whose property is eligible for the exemption under this subsection may continue to claim the full exemption as long as the surviving spouse uses the property as the surviving spouse's primary residence and the surviving spouse does not remarry. This would provide a full property tax exemption for veterans with a 100% disability rating and allow their surviving spouses to maintain this exemption under specific conditions. Additionally, D. The property of a veteran with a nonservice connected disability whose disability rating by the United States department of veterans affairs is one hundred percent or less or with a service connected disability whose DISABILITY rating by the United States department of veterans affairs is less than one hundred percent is exempt in the amount of $4,188. Furthermore, the bill would modify the income calculation for exemption eligibility by excluding payments from any veterans pensions, rather than only veterans disability pensions, from the calculation of income from all sources for the purpose of the exemption income cap. The current law's limitations on property assessment values for exemption eligibility would also be adjusted, allowing veterans with certain disabilities to qualify without being subject to the previous assessment limits. Overall, these changes aim to enhance the property tax benefits available to veterans and their families, reflecting a commitment to support those who have served.

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