IN HB1164

Amends Indiana Code IC 6-1.1-12-14 to modify eligibility requirements for veteran property tax deductions effective July 1, 2014.

Eliminates the $143,160 tangible property assessment limit for veterans with total disability or veterans age 62+ with at least 10% disability for assessment dates after December 31, 2014.

Allows eligible veterans to deduct $12,480 from assessed property value regardless of how much tangible property they own, once the property value cap is removed.

Maintains existing eligibility requirements: 90+ days military service, honorable discharge, and disability evidenced by U.S. Department of Veterans Affairs certification or Indiana department of veterans' affairs certificate.

Extends deduction eligibility to surviving spouses of qualifying veterans who meet the ownership or contract purchase requirements.