The bill introduces a property tax exemption for the primary residence of residents who are either sixty-five years of age or older or honorably discharged veterans, provided they have lived in that residence for at least fifteen years. To qualify for this exemption, claimants must file a sworn statement with the county assessor by March 1 each year, affirming their eligibility. In subsequent years, claimants can maintain their exemption status by confirming their qualifications with the assessor's office by the fourth Monday in May.

Additionally, the bill defines "honorably discharged veteran" as a member of the U.S. military whose separation documentation indicates an honorable discharge or honorable service. The act is set to take effect on July 1, 2023.

Statutes affected:
Introduced: 39-11-105