HB1149: Assessed value deduction for disabled veterans.

Legislative Summary

Assessed value deduction for disabled veterans. Increases the assessed value cap, from $200,000 to $240,000, that applies to the property tax deduction for a veteran who: (1) has a total disability; or (2) is at least 62 years of age and has at least a 10% disability. Provides that for purposes of determining the assessed value of the real property, mobile home, or manufactured home for an individual who has received a deduction in a previous year, increases in assessed value that occur after December 31, 2024, are not considered for purposes of determining whether an individual is eligible to receive the deduction.