The bill revises the Disabled Veteran Property Tax Assistance Program to extend benefits to disabled veterans rated between 60% to 90% disabled. It amends existing definitions and eligibility criteria in Sections 15-6-301 and 15-6-311 of the Montana Code Annotated (MCA). Notably, the definition of "qualified veteran" is updated to include those rated 60% disabled or higher, replacing the previous requirement of being rated 100% disabled. Additionally, the income percentage multipliers for property tax reductions are adjusted to reflect the new eligibility range, providing a 50% reduction for those rated 60% to 90% disabled, with varying percentages based on income levels.

The bill also establishes that the property tax exemption remains valid as long as qualifying income requirements are met and the property is the primary residence of the veteran or their surviving spouse. The qualifying income levels will be adjusted annually based on the PCE inflation factor. The act is set to take effect upon passage and approval, with applicability for property tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-6-301, 15-6-311