Connecticut House Bill HB05134

Connecticut 2013 Regular Session

• Introduced: 1/9/13
• Refer: 1/9/13

Caption

An Act Expanding The Property Tax Exemption For Veterans.

Impact

The implementation of HB 05134 would significantly amend subdivision (19) of section 12-81 of the general statutes, thereby expediting the property tax exemption process for a broader cohort of veterans across the state. As a result, an increased number of veterans, who have served under various circumstances, will be able to benefit from the tax exemption, thereby enhancing their financial standing and potentially alleviating some of their economic burdens. This expansion is particularly important in recognizing the diverse contributions of veterans beyond just those who have served in combat roles.

Summary

House Bill 05134, known as 'An Act Expanding The Property Tax Exemption For Veterans', aims to broaden the current eligibility criteria for property tax exemptions available to veterans. Under the proposed legislation, all veterans, irrespective of whether they served during a time of war, would now qualify for the benefits outlined in the existing property tax exemption programs. This move is intended to acknowledge the service of all veterans and facilitate their access to financial relief in property taxation.

Contention

One notable point of contention surrounding HB 05134 is the financial implications that this expanded exemption could have on local governments and state tax revenues. Critics may express concerns regarding the fiscal sustainability of providing such exemptions to a larger group and whether this could result in a shortfall in local funding that might traditionally come from property taxes. Conversely, proponents argue that the long-term benefits of rewarding all veterans for their service far outweigh potential budgetary concerns, framing it as a necessary investment in those who have served the nation.