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IN HB1265
Bill
Status
1/16/2018
Primary Sponsor
Sheila Klinker
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AI Summary
House Bill 1265 Summary
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Eliminates the $175,000 assessed property value limit for veterans' property tax deductions beginning with the January 1, 2019 assessment date.
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Allows totally disabled veterans and veterans age 62+ with at least 10% disability to claim the $12,480 property tax deduction regardless of their property's assessed value.
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Applies to Indiana real property, mobile homes not assessed as real property, and manufactured homes not assessed as real property.
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Maintains existing eligibility requirements: 90+ days military service, honorable discharge, and disability verified by U.S. Department of Veterans Affairs or Indiana Department of Veterans' Affairs.
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Effective July 1, 2018.
Legislative Description
Veterans' property tax deduction. Provides that, beginning with the January 1, 2019, 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
1/16/2018