IN HB1187

Increases the property tax deduction for totally disabled veterans from $14,000 to 100% of the assessed value of their real property, effective for assessment dates after December 31, 2025

Expires the existing property tax deduction under IC 6-1.1-12-13 for veterans with 10%+ service-connected disabilities, replacing it with a new $400 property tax liability credit under IC 6-1.1-51.3-6

Creates a new $300 property tax liability credit under IC 6-1.1-51.3-5 for veterans who are at least 62 years old with at least 10% disability, or their surviving spouses

Establishes a transitional "maximum property tax liability credit" under IC 6-1.1-53 for veterans who previously received deductions under the expired section, ensuring they pay no more than they would have under the old deduction system through January 1, 2033

Effective January 1, 2026 (retroactive), with the bill declared an emergency; authored by Representatives Judy, Commons, and Goss-Reaves and referred to the Committee on Ways and Means