Bill > HB1255

This bill amends Indiana's property tax exemption law for qualified veterans by expanding the criteria for receiving a $14,000 deduction from property's assessed value. The bill adds a new qualification for veterans who have been rated by the United States Department of Veterans Affairs (VA) as "individually unemployable" starting from the January 1, 2025 assessment date. Currently, veterans can qualify for the exemption if they served at least 90 days, received an honorable discharge, have a total disability, or are at least 62 years old with a disability of 10% or more. The bill maintains existing provisions allowing surviving spouses to claim the deduction under certain conditions, such as if the veteran was killed in action or died while serving. The property tax exemption is subject to an assessed value limit, which is set at $240,000 for the 2024 assessment date and subsequent years. The legislation aims to provide additional property tax relief for veterans with significant service-related disabilities, recognizing their contributions and sacrifices to the United States.