TO AMEND THE DEFINITION OF "HOMESTEAD" FOR THE PURPOSE OF THE PROPERTY TAX EXEMPTION FOR DISABLED VETERANS, SURVIVING SPOUSES, AND MINOR DEPENDENT CHILDREN.

Fiscal Impact Statement Bill: HB1129 Bill Subtitle: TO AMEND THE DEFINITION OF "HOMESTEAD" FOR THE PURPOSE OF THE PROPERTY TAX EXEMPTION FOR DISABLED VETERANS, SURVIVING SPOUSES, AND MINOR DEPENDENT CHILDREN. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Reps. Gramlich and Puryear Sen. Petty Basic Change: HB1129 amends the definition of "homestead" for the property tax exemption for a disabled veteran by increasing the amount of real property that is eligible for the exemption from 40 to 80 acres. A disabled veteran who has been awarded special monthly compensation by the Department of Veterans Affairs for the loss of, or the loss of use of, one or more limbs, for total blindness in one or both eyes, or for service-connected 100% total and permanent disability is exempt from payment of all state taxes on the homestead and personal property owned by the disabled veteran. Generally, a surviving spouse and minor dependent child of a deceased disabled veteran are also exempt from payment of all state taxes on the homestead. § 26-3-306 currently defines "homestead" to mean a dwelling used

Fiscal Impact Statement Bill: HB1129 Amendment Number: H1 Bill Subtitle: TO AMEND THE DEFINITION OF "HOMESTEAD" FOR THE PURPOSE OF THE PROPERTY TAX EXEMPTION FOR DISABLED VETERANS, SURVIVING SPOUSES, AND MINOR DEPENDENT CHILDREN. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Reps. Gramlich and Puryear Sen. Petty Basic Change: House Amendment No. 1 --- HB1129-H1 (engrossed 02/27/25) increases the amount of real property that is eligible for the exemption under the bill from 80 to 160 acres. Original Bill --- HB1129 amends the definition of "homestead" for the property tax exemption for a disabled veteran by increasing the amount of real property that is eligible for the exemption from 40 to 80 acres. A disabled veteran who has been awarded special monthly compensation by the Department of Veterans Affairs for the loss of, or the loss of use of, one or more limbs, for total blindness in one or both eyes, or for service-connected 100% total and permanent disability is exempt from payment of all state taxes on the homestead and personal property owned by the disabled veteran. Generally,