Authorizes proportional property tax exemption for honorably discharged veterans with service-connected disabilities and requires state reimbursement.

The bill provides a proportional property tax exemption for honorably discharged veterans with a service-connected disability of at least 30 percent, up to a maximum of $10,000. Veterans with a 100 percent disability rating are eligible for a full 100 percent property tax exemption without a cap. The exemption extends to the surviving spouse of a veteran who died in service or with a 100 percent disability rating. The State is mandated to reimburse municipalities for the cost of these exemptions.

Authorizes proportional property tax exemption for honorably discharged veterans with service-connected disabilities and requires state reimbursement.

The bill provides a proportional property tax exemption for honorably discharged veterans with a service-connected disability of at least 30 percent, up to a maximum of $10,000. Veterans with a 100 percent disability rating are eligible for a full 100 percent property tax exemption without a cap. The exemption extends to the surviving spouse of a veteran who died in service or with a 100 percent disability rating. The State is mandated to reimburse municipalities for the cost of these exemptions.