Bill > SF3260

This bill modifies property tax market value exclusions for veterans with disabilities, their surviving spouses, and family caregivers. Specifically, it increases the market value exclusion base amount to $200,000 for assessment year 2026, with annual adjustments for inflation based on the government's implicit price deflator. For veterans with a total and permanent disability, the exclusion will be doubled to $400,000. The bill expands eligibility by removing some previous restrictions on military discharge documentation and allows surviving spouses more flexibility in applying for the exclusion. Veterans with a service-connected disability of 70% or more can now receive a partial market value exclusion, with a full exclusion for those with a 100% disability rating. The legislation also allows surviving spouses to reapply for the exclusion if previously denied and provides continued benefits even if they move to a different property. The bill's purpose is to provide property tax relief for veterans, their caregivers, and their families, recognizing the sacrifices made by those who have served in the military. The changes will take effect for assessment year 2026 and thereafter.