Bill > S1414

This bill proposes to expand property tax exemptions for disabled veterans by removing limitations on the amount of property value that can be exempted and the requirement for a proportionate abatement if the property is larger than a single-family home. Previously, the exemption was capped at a certain dollar amount of taxable valuation or a fixed sum, whichever provided a greater tax reduction, and had specific rules for multi-unit dwellings. Now, eligible disabled veterans, defined as those with a 100% disability rating, or their surviving spouses, will receive a total exemption from their real property taxes on their primary residence, with the state treasurer reimbursing cities and towns for the lost tax revenue.