Veterans tax exemption.

05LSO-0204.L2

                                                         

FISCAL NOTE

 

The fiscal impact, in the form of increased expenditures from the General Fund, is indeterminable.

 

This bill expands the veteran's exemption to include veterans who received the southwest Asia service medal, the Korean service defense medal, the Kosovo campaign medal, the global war on terrorism expeditionary medal, and service medals for military service in Iraq (including Operation Iraqi Freedom).

 

The expansion of the veteran's exemption to include the service medals in the bill will increase expenditures over time, but this increase is anticipated to be minimal during the next three years state wide.  While veterans’ qualification for the exemption will be established over the next three years numbering a few thousand (not specifically quantifiable), the majority will not discharge.

 

The current average property tax exemption per qualifying veteran is $105.16, based on a 5 year historical average.

 

 

 

Prepared by:   Dean Temte, LSO        Phone:   777-7881

(Information from Doug Shope, Military Dept.; phone (307) 421-3112:

Wade Hall, Dept. of Revenue; Phone 777-5235)