SB2996 Summary

• Allows veteran's homestead exemption applications to continue processing after the veteran's death if they had a surviving spouse, with approval carrying over to the surviving spouse if the spouse meets eligibility requirements.

• Surviving spouses must hold legal or beneficial title to the homestead, permanently reside there, and not remarry to receive the exemption carryover.

• Exemption amounts vary by disability rating: $2,500 for 30-50% disability, $5,000 for 50-70% disability, and full exemption for 70%+ disability (for taxable years 2015 and after).

• For taxable year 2023 and thereafter, surviving spouses of veterans whose deaths were service-connected and who receive dependency and indemnity compensation are eligible for full property tax exemption.

• Effective immediately upon passage.