This bill amends the General Property Tax Act to provide tax exemptions for real property used and owned as a homestead by disabled veterans and their surviving spouses. Specifically, it establishes that a surviving spouse of a disabled veteran can continue to receive the exemption as long as they do not remarry, and it applies to any homestead property they acquire after the veteran's death. The bill also outlines the application process for obtaining the exemption, which must be filed with the local assessing officer within the calendar year for which the exemption is claimed. Additionally, it allows the assessing officer to require further information from cooperative housing corporations when necessary.

The bill includes several important insertions, such as clarifying that the exemption remains in effect without the need for reapplication until rescinded or denied, and it specifies the proration methods for the exemption if the property is not used as a homestead for the entire tax year. Furthermore, it defines key terms such as "disabled veteran" and "own" to ensure clarity in the application of the law. The language also emphasizes that the legal title to the property includes the interest of a tenant stockholder in a cooperative housing corporation, thereby broadening the scope of eligibility for the exemption.

Statutes affected:
Senate Introduced Bill: 211.7