HB254 Summary

• Creates a new ad valorem tax exemption for military veterans who are at least 20 percent disabled on their principal residence and up to 160 adjacent acres.

• Exemption amount equals the veteran's disability rating percentage as documented in affidavits from two state-licensed physicians, with at least one actively treating the disability.

• Veterans drawing pension or annuity from armed services, private companies, or government agencies due to disability automatically receive a certificate of partial disability from the Department of Revenue.

• Exemption applies only to single-family homes owned and occupied as the principal residence during the tax year.

• Becomes effective October 1, 2024.