Connecticut House Bill HB05540

Connecticut 2015 Regular Session

• Introduced: 1/16/15
• Refer: 1/16/15

Caption

An Act Concerning Property Tax Exemptions For Disabled Veterans.

Impact

If enacted, HB 05540 would amend Chapter 203 of the general statutes to expand the current tax exemption limits for disabled veterans. This change could potentially lead to significant savings for affected individuals, allowing them to allocate those funds towards other essential needs. The bill emphasizes a commitment to improving the well-being of veterans and enhancing the quality of life for disabled service members through financial assistance in the form of tax reductions.

Summary

House Bill 05540 aims to increase property tax exemptions specifically for disabled veterans in the state. This initiative is designed to provide greater financial relief and support to those who have served in the military and now live with disabilities. By enhancing tax exemptions for residential properties and motor vehicles owned by disabled veterans, the bill seeks to recognize the sacrifices made by these individuals and help alleviate some of the financial burdens associated with property ownership.

Contention

While the bill has received support from various veterans' organizations and advocacy groups that view it as a necessary measure of recognition for disabled veterans, there could be contention surrounding the financial implications for local governments. The increase in tax exemptions may lead to reduced revenue for municipalities that rely on property taxes for public services. Opponents may raise concerns regarding the sustainability of such tax exemptions and the equitable distribution of tax relief among all veteran demographics.