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Senate committee clears bill to let disabled veterans claim homestead exemption when property in trust or LLC
Summary
The Senate Revenue & Tax Committee approved House Bill 1809 to allow disabled veterans to claim the homestead property tax exemption when their primary residence is held in a trust or LLC, provided the veteran remains the beneficiary or sole member.
The Senate Revenue & Tax Committee on Monday approved House Bill 1809, a measure that would allow disabled veterans to claim the homestead exemption on a primary residence held in a trust or limited liability company if the veteran is named as the beneficiary or sole member. Senator Matt McKee, State Senator for District 6, presented the bill at the request of tax collectors.
McKee said the issue arises when a disabled veteran’s primary residence is…
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