Bill > HB1072

This bill clarifies the property tax exemption process for disabled veterans, their surviving spouses, and minor dependent children by establishing new procedural requirements. Specifically, the bill stipulates that veterans or eligible family members only need to submit a letter from the Department of Veterans Affairs one time to establish their tax exemption eligibility, and they will not be required to submit such documentation annually. However, taxpayers are now obligated to notify the county collector if there are significant changes to their status, such as no longer qualifying for the exemption or changes in property ownership, use, or occupancy. If a taxpayer moves to a new homestead, they must submit a new letter to the county collector in their new county. Additionally, the bill empowers county collectors to remove erroneously granted exemptions and potentially collect up to three years of back taxes, penalties, and interest from the taxpayer who claimed the incorrect exemption. These new provisions will take effect for assessment years beginning on or after January 1, 2025, providing a clear framework for administering property tax exemptions for disabled veterans and their families.

Budget and Finance

https://www.arkleg.state.ar.us/Bills/Detail?id=hb1072&ddBienniumSession=2025%2F2025R