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IN HB1245

Bill

Official Source

Status

Introduced

1/11/2016

Primary Sponsor

Sheila Klinker

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Allows veterans to deduct $12,480 from assessed property value if they served at least 90 days in U.S. military forces and received an honorable discharge
  • Eligible veterans must have either total disability or be at least 62 years old with at least 10% disability, evidenced by VA pension/compensation or Indiana department of veterans' affairs certification
  • For assessment dates before January 1, 2017, tangible property assessed value cannot exceed $143,160 to qualify for the deduction
  • For assessment dates after December 31, 2016, assessed value of tangible property is no longer considered when determining deduction eligibility
  • Surviving spouses of qualifying veterans may claim the deduction if the veteran met eligibility requirements at death and the spouse owns or is buying the property
  • Effective July 1, 2016

Legislative Description

Veterans' property tax deductions. Provides that after December 31, 2016, 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

1/14/2016

Committee Referrals

Ways and Means1/11/2016

Full Bill Text

No bill text available