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Senate committee hears plan to replace partial property tax exemptions for veterans with $1,750 credit
Summary
Supporters including county assessors told the Senate Committee on Finance and Revenue that Senate Bill 1094 would replace three partial assessed-value exemptions (active-duty military, disabled veterans, surviving spouses) with a uniform property tax credit intended to reduce administrative uncertainty caused by Department of Revenue remapping.
Senate Bill 1094 would replace three existing partial assessed-value property tax exemptions for active-duty military members, disabled veterans and surviving spouses with a uniform property tax credit of $1,750, supporters told the Senate Committee on Finance and Revenue during a public hearing April 16.
Proponents said the measure aims to remove administrative complexity created by recent Department of Revenue guidance requiring reassessment, commonly called “remapping,” when taxpayers enter or leave partial assessed-value exemptions.
Eric Chancellor, testifying on behalf of county assessors, said the bill “would phase those partial AV exemptions out and in their place establish, more uniform property tax credits.” He said the change would avoid the reassessment…
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