SF 1098 Summary

• Modifies the property tax exclusion for veterans with service-connected disabilities of 70 percent or more, replacing fixed dollar amounts with a formula based on an adjustable exclusion base amount multiplied by disability rating percentage.

• Sets the exclusion base amount at $400,000 for assessment year 2023, with annual adjustments thereafter based on the implicit price deflator for government consumption expenditures and gross investment.

• For veterans with total (100 percent) permanent disability, the exclusion equals the full exclusion base amount rather than a fixed $300,000.

• Removes time restrictions on spousal applications for the exclusion under paragraph (d), allowing applications to be filed any time after the service member's death instead of within two years.

• Removes the June 1, 2019 deadline for surviving spouse applications under paragraph (k), allowing applications to be filed any time after the veteran's death or two years after, whichever is later.