Proposed constitutional amendment to increase veterans' property tax deduction based on annual CPI increases.
This bill proposes a constitutional amendment to increase the amount of the veterans' property tax deduction based on annual increases in the Consumer Price Index (CPI). The CPI is a measure of inflation and the average change over time in the prices of goods and services. The amendment would first adjust the deduction for tax year 2026 based on the CPI increases from 2003 through 2025. Starting in tax year 2027, the deduction would be annually adjusted based on the CPI increase for that year. The amendment ensures the deduction would not decrease even if the CPI decreases.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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