This bill establishes a property tax exemption for homestead properties owned by certain veterans and former law enforcement officers who have service-connected disabilities, as well as their surviving spouses. The exemption varies based on the severity of the disability, with specific amounts outlined: a $2,500 exemption for disabilities between 30% and 50%, a $5,000 exemption for disabilities between 50% and 60%, and a full exemption for disabilities of 60% or more. Additionally, surviving spouses of veterans or law enforcement officers who died due to service-connected incidents are also eligible for full property tax exemption. The bill also stipulates that if the property owner moves to an adult care home or a facility operated by the U.S. Department of Veterans Affairs, the exemption can continue under certain conditions.

Furthermore, the bill clarifies that the exemption does not require prior qualification if the veteran or law enforcement officer was killed in the line of duty. It also allows for the exemption to carry over to the surviving spouse as long as they maintain legal title to the property, reside there, and do not remarry. The bill includes provisions for annual claims for the exemption and specifies that those with a 100% disability rating will not need to reapply annually. The provisions of this act will apply to all taxable years starting after December 31, 2025.