(Indianapolis, IN) – Governor Mike Braun ceremonially signed HEA 1210 on Wednesday, a new law that he says will protect Indiana taxpayers, strengthen transparency, and expand property tax relief for Hoosier veterans.
“Protecting last year’s property tax relief for Hoosiers is critical and with HEA 1210, we have taken steps to keep the foundation strong. And now it’s time to build on that foundation to see what else can be done to make life more affordable for Hoosier families,” Gov. Braun said. “Kitchen table conversations about the household budget are getting harder. Hoosiers need more relief.”
The new law says totally disabled veterans are eligible for a 100% deduction of the assessed value of their homestead, meaning they will not owe property taxes on their primary residence.
The benefit also applies to eligible surviving spouses who do not remarry.
HEA 1210 also creates new property tax credits for eligible veterans, including a $350 local property tax credit for wartime veterans with at least a 10% service-connected disability and a $250 local property tax credit for veterans age 62 or older with at least a 10% disability. Eligible surviving spouses may also qualify. These credits are stackable for a total possible savings of $600 for veterans.
The governor’s office says the new law is estimated to return $46.2 million annually to disabled veterans through expanded deductions and new property tax credits.
