Bill > S00393

This bill increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent, up from the previous ten percent exemption. The bill also raises the maximum exemption amount from $8,000 to $40,000 or the product of $40,000 multiplied by the latest state equalization rate or class ratio, whichever is less. The bill will take effect immediately and apply to assessment rolls prepared on or after January 1, 2020.