IN SB0135

Increases the assessed value cap for the veteran's property tax deduction from $143,160 to $195,600.

Applies to veterans with a total disability or those with at least 10% disability who are age 62 or older.

Effective retroactively on March 1, 2014 for assessment dates after February 28, 2014.

Surviving spouses of qualifying veterans may also receive the deduction under the same assessed value cap.

Senate Committee on Tax and Fiscal Policy approved the bill unanimously with a 12-0 vote.