No. HB 393
Filed under Taxes & Budget.
Ad Valorem Tax Exemption for Disabled Veterans; Removes limitation on value of tax exemption that surviving spouse could transfer to new residence; revises when specified tax exemption is considered to be granted.
Plain English Summary
AI-GENERATEDSurviving spouses of disabled veterans can now transfer their full property tax exemption to a new primary residence, regardless of the property's value.
Previously, the transferable exemption was capped at the amount granted on the most recent tax roll, limiting the benefit for higher-value homes.
The bill also changes when the exemption is officially granted, shifting the start date from the application date to the date the veteran actually became eligible.
This ensures veterans receive a refund for any taxes paid between their eligibility date and the date they applied for the exemption.
AISurviving spouses of disabled veterans can now transfer their full tax exemption to a new primary residence without a value limit.
AISurviving spouses can transfer the full homestead exemption to a new primary residence without a value limit.
AISurviving spouses can transfer the full homestead exemption to a new primary residence without a value limit.
AIThe tax exemption is now effective from the date the applicant became eligible, rather than the date of the original application.