House Bill 492 Summary

• Creates a special property tax reduction for veterans with a service-connected disability of 100% beginning in tax year 2019, separate from existing property tax reductions.

• Sets the special reduction amount at $1,320 or the veteran's actual property taxes, whichever is less, with combined reductions not exceeding actual property taxes owed.

• Eliminates income documentation requirements for disabled veteran applicants while maintaining all other procedural requirements under existing property tax reduction law.

• Extends the special property tax reduction to surviving spouses of qualified veterans who have not remarried and continue to have property tax levied on the homestead.

• Requires county assessors and auditors to include disabled veteran homeowner tax reduction amounts on property tax reduction rolls and report this information to the state tax commission.