Bill > H3305

This bill updates and applies a cost of living adjustment to certain veterans' property tax benefits. The key provisions are: 1. Increasing the maximum property tax exemption amounts for disabled veterans and their surviving spouses from $2,000 to $4,000, $4,000 to $8,000, $8,000 to $16,000, $10,000 to $20,000, and $6,000 to $12,000, depending on the specific exemption clause. 2. Increasing the maximum tax credit amounts that can be claimed from $400 to $800, $750 to $1,500, $1,250 to $2,500, $1,500 to $3,000, and $1,000 to $2,000, again depending on the specific exemption clause. 3. Requiring the exemption amounts to be adjusted annually based on the percentage change in the Consumer Price Index. The bill aims to provide more financial assistance to disabled veterans and their families by increasing the value of these property tax benefits in line with the rising cost of living.

Budget and Finance

https://malegislature.gov/Bills/190/H3305