KS HB2005

Creates the "Veterans' Valor Property Tax Relief Act" providing an income tax credit equal to 50% of property taxes paid on a veteran's principal residence, effective tax year 2025 and thereafter

Eligibility requires veterans deemed totally disabled, permanently and totally disabled, or unemployable under federal regulations (38 C.F.R. § 3.340)

Credit applies to property and ad valorem taxes paid on real or personal property used for residential purposes

Excess credit amounts beyond a taxpayer's income tax liability will be refunded; taxpayers cannot combine this credit with the homestead property tax refund or SAFESR senior relief programs

Income and appraised valuation limits from the homestead property tax refund act do not apply to this credit