SD SB126

Increases the property tax exemption from $200,000 to $300,000 of full and true value for owner-occupied dwellings owned by veterans rated as permanently and totally disabled from a service-connected disability

Extends the same $100,000 exemption increase (from $200,000 to $300,000) to surviving spouses of permanently disabled veterans or those receiving dependency and indemnity compensation due to a veteran's service-connected death

Applications must be submitted to the Department of Revenue, and all application materials remain confidential

Exemption continues until the property is transferred, the veteran/surviving spouse no longer occupies the dwelling, the surviving spouse remarries, or the property use changes