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IN HB1126
Bill
Status
1/7/2016
Primary Sponsor
Martin Carbaugh
Click for details
AI Summary
HB 1126 - Property Tax Benefits for Veterans
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County fiscal bodies may adopt ordinances authorizing total or partial property tax exemptions for homesteads owned by surviving spouses of armed forces members killed in action or who died on active duty, or by individuals receiving dependency indemnity compensation.
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County fiscal bodies may exempt homesteads owned by disabled veterans if the property was conveyed without charge by a tax-exempt organization.
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County fiscal bodies may exempt homesteads owned by veterans who served during periods specified by the county, with counties defining the service periods and minimum duration requirements.
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County fiscal bodies may eliminate or increase the assessed value cap ($143,160) for disabled veterans' property tax deductions.
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County fiscal bodies may allow the standard homestead deduction to apply to properties owned by veterans serving out of state, even if the property is leased to another person.
Legislative Description
Property tax benefits for veterans. Specifies that a county fiscal body may adopt an ordinance to authorize a total or partial property tax exemption for any of the following: (1) A homestead in the county that is owned by: (A) an individual (or surviving spouse of an individual) who served in the armed forces of the United States or in the national guard and was killed in action or died while on active duty; or (B) an individual who is receiving dependency indemnity compensation. (2) A homestead in the county that is owned by a disabled veteran, if the homestead
Last Action
First reading: referred to Committee on Ways and Means
1/7/2016