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IN SB0396
Bill
AI Summary
Senate Bill No. 396 Summary
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Veterans classified as individually unemployable by the U.S. Department of Veterans Affairs are entitled to a $12,480 property tax deduction on real property, mobile homes, or manufactured homes.
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Property tax deduction limits for veterans increased to $175,000 assessed value for 2017 and $195,000 for assessment dates after 2017 (applies to totally disabled veterans, those age 62+ with 10% disability, or those classified as individually unemployable).
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Surviving spouses of individuals who died while serving in military or naval forces are entitled to an $18,720 property tax deduction on homestead property.
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County and municipal fiscal bodies may adopt ordinances providing property tax deductions (up to 10 consecutive years) for eligible individuals who acquire and occupy abandoned dwellings as homesteads (including military members, public safety officers, and teachers).
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All provisions effective July 1, 2018 for property taxes on assessment dates occurring after December 31, 2017.
Legislative Description
Veterans' property tax matters. Provides that a veteran who is classified as individually unemployable is entitled to a property tax deduction. Increases the limit of the gross assessed value below which the veteran's property tax deduction is allowable for a veteran who is totally disabled, is at least 62 years of age and has a disability of at least 10%, or is individually unemployable. Provides that the surviving spouse of an individual who dies while serving in the military or naval forces of the United States is entitled to a property tax deduction. Provides a county option deduction to eligible
Last Action
First reading: referred to Committee on Appropriations
1/8/2018