Bill > H3494

This bill proposes to increase property tax exemptions for disabled veterans by establishing an incremental exemption scale based on their disability rating. Specifically, it amends existing law to allow veterans with a disability rating of 10% or more, as determined by the Veterans Administration or armed forces, to receive a property tax abatement. This abatement will be calculated based on a scale set by the Department of Revenue, ranging from a minimum of $400 for a 10% disability to a maximum of $1,000 for a 100% disability, with proportional increases for disability ratings in between. The bill also clarifies that once an exemption is granted, it will continue in subsequent years unless the veteran's disability rating drops below 10% or assessors become aware of any misrepresentation. The Department of Revenue, in conjunction with the Commissioner of Veterans' Affairs, is tasked with issuing this exemption scale and any necessary regulations by January 1, 2016.