S.F. No. 3373 Summary

• Increases the homestead market value exclusion for veterans with a 70 percent or more service-connected disability from $150,000 to $250,000.

• Increases the homestead market value exclusion for veterans with a total (100 percent) and permanent disability from $300,000 to $450,000.

• Allows surviving spouses of qualifying veterans to receive the same exclusion amounts if they hold legal or beneficial title to the homestead and permanently reside there.

• Permits surviving spouses who previously lost the exclusion benefit to reapply if the exclusion expired before taxes payable in 2020.

• Effective for assessment year 2024 and requires honorable discharge documentation and United States Department of Veterans Affairs disability certification.