HB1412 Summary

• Amends Arkansas Code § 26-3-306 to provide disabled veterans with partial property tax exemptions proportional to their disability level, rather than only full exemptions for 100% disabled veterans.

• Disabled veterans with loss of one or more limbs, total blindness in one or both eyes, or service-connected 100% total and permanent disability are exempt from state taxes on homestead and personal property in proportion to their disability extent.

• Extends partial or total exemption eligibility to surviving spouses and minor dependent children of deceased disabled veterans and armed forces members killed or died in service, with exemptions continuing for surviving spouses so long as they remain unmarried.

• Requires disabled veterans and their surviving spouses/children to furnish county collectors with verification letters from the Department of Veterans Affairs and affidavits establishing their eligibility status.

• Effective for assessment years beginning on or after January 1, 2017.