The bill mandates a comprehensive study by the Executive Office of Veterans Services, in collaboration with the Department of Revenue, to assess property tax abatements and exemptions for veterans and surviving spouses as specified in Chapter 59 of the General Laws. This study will examine various factors, including comparisons of veteran property tax exemptions across states, the feasibility of a sliding scale for exemptions based on disability percentage, and the financial implications of these exemptions for veterans with disabilities. The findings will be reported to the Joint Committee on Veterans and Federal Affairs, as well as the clerks of both legislative chambers and the committees on Ways and Means.

Additionally, the bill proposes a sliding scale model for property tax exemptions for veterans with service-connected disabilities, starting from a minimum of $400 and increasing to $1,000 for those with 100% disability. This model aims to create a fairer system for determining benefits and is projected to cost the state approximately $26,664,868 for FY24 after municipal reimbursements. The study will also analyze trends in property tax exemptions from 2020 to 2024, noting variations in the number of exemptions granted under different clauses. The proposed changes are intended to enhance financial support for veterans while simplifying the eligibility determination process.