1 week ago
OKLAHOMA CITY – Legislation now signed into law will increase the access of disabled veterans to a property tax exemption.
“Disabled veterans are individuals who have paid a high price for their service to this country and who may face difficult circumstances due to their disability,” said Roberts, R-Durant. “This legislation will help those individuals qualify for an additional homestead exemption.”
The bill was endorsed by the Oklahoma food banks and was their featured bill for the session.
Based on 2014 U.S. Veteran Affairs data, there are 84,170 Oklahoma veterans receiving disability compensation. House staff estimates about 2,830 homesteads could qualify under the new law and, at $103 per exemption, the maximum fiscal impact would be $291,490 in local property tax revenues.
The law will take effect in November 2016.