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OR SB955
Bill
Status
Failed
6/27/2025
Primary Sponsor
David Smith
Click for details
AI Summary
- Creates a specially assessed property tax value for owner-occupied primary residences of veterans and surviving spouses of veterans who have not remarried
- Freezes the assessed value at the real market value from the tax year immediately preceding the first year of the claim, with annual increases capped at 3%
- Requires claims to be filed with the county assessor between January 1 and April 15 preceding the property tax year, using a Department of Revenue form with documentation
- Disqualifies the residence from special assessment upon death of the claimant, remarriage of surviving spouse, sale of the property, or if it ceases to be the owner-occupied primary residence
- Applies to property tax years beginning on or after July 1, 2026, and takes effect on the 91st day after the 2025 legislative session adjourns
Legislative Description
Relating to a specially assessed value for the residences of veterans; prescribing an effective date.
Last Action
In committee upon adjournment.
6/27/2025
Committee Referrals
Finance and Revenue1/28/2025
Full Bill Text
No bill text available