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IN HB1443
Bill
Status
1/14/2015
Primary Sponsor
Sheila Klinker
Click for details
AI Summary
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Allows eligible veterans to deduct $12,480 from the assessed value of tangible property they own or are purchasing under contract.
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Requires veterans to have served at least 90 days in U.S. military or naval forces and received an honorable discharge.
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Eligibility requires either total disability or being at least 62 years old with at least 10% disability, evidenced by Department of Veterans Affairs documentation or Indiana Department of Veterans' Affairs certification.
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For assessment dates before January 1, 2016, limits deduction eligibility if tangible property value exceeds $143,160; eliminates this tangible property value limit for assessment dates after December 31, 2015.
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Extends deduction eligibility to surviving spouses of qualifying veterans if the spouse owns or is purchasing the property when the deduction statement is filed.
Legislative Description
Veterans' property tax deductions. Provides that after December 31, 2015, the assessed value of an individual's tangible property may not be considered when determining whether the individual is eligible for the property tax deduction for: (1) totally disabled veterans; or (2) veterans who are at least 62 years of age and have a disability of at least 10%.
Last Action
Representative Truitt added as coauthor
1/22/2015