New law protects property tax relief for disabled veterans

Veterans with disabilities will now have their Disabled Veterans’ Standard Homestead Exemption follow them to a new residence, even if they move during the middle of the year, now that Senate Bill 2306 has been signed into law.

Under the new law, the homestead exemption for veterans with disabilities will now be prorated if the veteran who qualifies for the exemption does not occupy the qualified residence as of January 1 of the taxable year.

Previously, if a disabled veteran receiving tax relief through the homestead exemption moved in the middle of the year, then he or she would have been responsible for paying the outstanding property taxes on their new residence until they reapplied for the exemption the next year.

The Disabled Veterans’ Standard Homestead Exemption provides a reduction in a property’s Equalized Assessed Value to a qualifying property owned by a veteran with a service-connected disability.

To apply for this exemption, veterans must contact or visit their local County Assessor’s Office.

Chapin Rose

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