Full homestead exemption for disabled veterans, spouses approved

Senators passed a bill March 31 that extends a homestead exemption to disabled veterans.

LB1087, introduced by Omaha Sen. Pete Pirsch, provides a 100 percent property tax exemption for a veteran with an honorable or general discharge who is drawing compensation for a 100 percent disability but is not eligible for the existing total homestead exemption.

The bill also provides a 100 percent exemption to the single widow or widower of any honorably or generally discharged veteran who died because of a service-related disability. The single widow or widower of a veteran killed while on active duty also is eligible for the exemption.

The bill decreases general fund revenue by an estimated $406,000 in fiscal year 2015-16 and $416,000 in FY2016-17.

Senators passed the bill on a 48-0 vote. The exemption takes effect Jan. 1, 2015.