Loading chat...
IN HB1115
Bill
Status
1/5/2017
Primary Sponsor
Sheila Klinker
Click for details
AI Summary
HB 1115 Summary
-
Removes property value limits for veterans' property tax deductions starting January 1, 2018 assessment date, eliminating the previous $175,000 assessed value cap for eligibility determination.
-
Allows totally disabled veterans and veterans age 62+ with at least 10% disability to qualify for a $12,480 property tax deduction regardless of their Indiana real property, mobile home, or manufactured home assessed values.
-
Maintains existing eligibility requirements including 90+ days military service, honorable discharge, and disability documentation from either the U.S. Department of Veterans Affairs or Indiana Department of Veterans' Affairs.
-
Extends deduction eligibility to surviving spouses of qualifying veterans who meet the ownership or contract purchase requirements at the time of application.
-
Effective July 1, 2017, amending Indiana Code 6-1.1-12-14.
Legislative Description
Veterans' property tax deductions. Provides that beginning with the January 1, 2018, assessment date, the assessed value of an individual's Indiana real property, Indiana mobile home not assessed as real property, and Indiana manufactured home not assessed as real property may not be considered when determining whether the individual is eligible for the property tax deduction for: (1) totally disabled veterans; and (2) veterans who are at least 62 years of age and have a disability of at least 10%.
Last Action
First reading: referred to Committee on Ways and Means
1/5/2017