Bill > HB4443

This bill establishes a specific tax for homesteads owned by disabled veterans and their surviving spouses, who are currently exempt from general property taxes. The bill creates the "disabled veteran's homestead specific tax" which will begin January 1, 2026, and applies to properties that are currently tax-exempt under existing veterans' property tax exemption laws. The specific tax will be calculated by multiplying the number of mills that would normally be assessed by the property's taxable value, and then discounting the amount based on the severity of the veteran's disability rating as determined by the U.S. Department of Veterans Affairs. Veterans with 100% disability ratings will receive a 100% tax discount, while those with lower disability ratings will have their specific tax prorated accordingly. The tax will be collected and disbursed in the same manner as traditional property taxes, with funds distributed to various local government entities. The bill is tied to another piece of legislation (House Bill 4444) and provides detailed definitions for terms like "disabled veteran" and "principal residence" to ensure clear implementation. Unpaid specific taxes will be subject to the same forfeiture and foreclosure processes as standard property taxes.