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, provided they do not remarry and the property remains their primary residence. The bill would also exempt properties of veterans with nonservice-connected disabilities rated at 100 percent or less from the requirement to be valued below a certain assessment limit to qualify for the 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, not just disability pensions. It would also adjust the exemption amounts and assessment limits, ensuring that the total allowable exemption aligns with the new provisions. The bill aims to provide greater financial relief to veterans and their families by simplifying the eligibility criteria and enhancing the benefits available to them.

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