Alabama SB130 exempts certain disabled veterans from homestead ad valorem taxes and prohibits their inclusion in debt-to-income ratios.

Alabama SB130, the Disabled Veterans Property Tax Debt-To-Income Ratio Exemption Act, exempts disabled veterans with a 100 percent disability rating from homestead ad valorem taxes. It requires tax assessing officials to issue a tentative certificate of permanent and total disability to eligible veterans upon submission of specific documentation. This bill also prohibits settlement agents and loan closing officers from considering these ad valorem taxes when calculating the debt-to-income ratio of these veterans.

Alabama SB130 exempts certain disabled veterans from homestead ad valorem taxes and prohibits their inclusion in debt-to-income ratios.

Alabama SB130, the Disabled Veterans Property Tax Debt-To-Income Ratio Exemption Act, exempts disabled veterans with a 100 percent disability rating from homestead ad valorem taxes. It requires tax assessing officials to issue a tentative certificate of permanent and total disability to eligible veterans upon submission of specific documentation. This bill also prohibits settlement agents and loan closing officers from considering these ad valorem taxes when calculating the debt-to-income ratio of these veterans.