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IN SB0557
Bill
Status
1/14/2019
Primary Sponsor
Erin Houchin
Click for details
AI Summary
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Veterans classified as "individually unemployable" by the U.S. Department of Veterans Affairs become eligible for a property tax deduction equal to 100% of assessed value, regardless of their disability rating
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The $175,000 gross assessed value limit for property tax deductions is removed starting January 1, 2020 for veterans who are totally disabled, at least 62 years old with 10%+ disability, or individually unemployable
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Surviving spouses of service members who died while serving in the U.S. military or naval forces become entitled to an $18,720 property tax deduction
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Veterans with total disability or those 62+ with at least 10% disability remain eligible for the existing $12,480 deduction
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Effective date is July 1, 2019, applying to assessment dates after December 31, 2019
Legislative Description
Property tax deductions for veterans. Provides that a veteran who is classified as individually unemployable is entitled to a property tax deduction. Removes the limit on the gross assessed value of property eligible for the property tax deduction 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.
Last Action
First reading: referred to Committee on Appropriations
1/14/2019