Bill
SD 577
Overview: SD 577 - An Act granting property tax exemptions to disabled veteransPurpose and Intent: This legislation aims to provide property tax relief to disabled veterans and the
Overview: SD 577 - An Act granting property tax exemptions to disabled veterans
Purpose and Intent: This legislation aims to provide property tax relief to disabled veterans and their surviving spouses. The intent is to ease the financial burden on those who have served and sacrificed for their country.
Key Provisions:
- Grants a 100% property tax exemption for any veteran with a service-connected disability of 70% or greater
- Extends the 100% exemption to the surviving spouse of a disabled veteran, provided the spouse has not remarried
- Establishes a 50% property tax exemption for veterans with a service-connected disability between 50-69%
- Requires disabled veterans to reapply for the exemption every 3 years to verify their eligibility
Affected Parties and Impacts:
- Veterans with a service-connected disability of 50% or greater
- Surviving spouses of disabled veterans who have not remarried
- State and local governments that will see reduced property tax revenue from the exemptions
Procedural and Timeline Considerations:
The bill has passed both the state Senate and House and is awaiting the governor's signature to become law. If enacted, the property tax exemptions would take effect starting in the next tax year.
Compiled from official sources — confirm details with the bill’s official record.
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