H.B. 694 - Disabled Veterans Property Tax Exemption

• Authorizes a total property tax exemption for homesteads owned and occupied by totally disabled veterans, replacing the previous reduction formula.

• Extends the exemption to surviving spouses of disabled veterans who occupied the homestead at the veteran's death and continue to own or occupy it until they die or remarry.

• Exemption equals the product of $50,000 of true property value multiplied by the assessment percentage (not exceeding 35%), effective tax rate, and applicable tax reduction factors.

• Applies identical exemptions to manufactured and mobile homes owned by disabled veterans under the manufactured home tax provisions.

• Amendments to section 323.152 apply to tax year 2022 and thereafter; amendments to section 4503.065 apply to tax year 2023 and thereafter.