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IN HB1345
Bill
Status
1/12/2017
Primary Sponsor
Charles Moseley
Click for details
AI Summary
HB 1345 Summary
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County fiscal bodies may adopt ordinances allowing eligible veterans of World War II (December 7, 1941 – December 31, 1946), the Korean Conflict (June 27, 1950 – January 31, 1955), and the Vietnam Conflict (August 5, 1964 – May 7, 1975) to deduct $18,720 from assessed property values.
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Eligible veterans must have received an honorable discharge and own or be buying under contract their principal residence, which cannot exceed $206,500 in assessed value and must be owned for at least one year before claiming the deduction.
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County fiscal bodies may also adopt ordinances providing surviving spouses of qualifying veterans the same $18,720 property tax deduction available to surviving spouses of World War I veterans.
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Properties remain eligible for the deduction even if a county repeals its ordinance, as long as the owner and property otherwise continue to qualify.
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The bill takes effect July 1, 2017, and applies to assessment dates after December 31, 2017.
Legislative Description
Property tax deductions for veterans. Authorizes the fiscal body of a county to adopt an ordinance to allow a property tax deduction to veterans of World War II, the Korean Conflict, and the Vietnam Conflict. Provides that the deduction is subject to the same procedures and eligibility limits as the expired deduction for World War I veterans. Authorizes the fiscal body of a county to adopt an ordinance to provide a property tax deduction to the surviving spouses of veterans of World War II, the Korean Conflict, and the Vietnam Conflict that is equivalent to the current property tax deduction
Last Action
First reading: referred to Committee on Ways and Means
1/12/2017