HB1072

House Bill 1072 amends Arkansas law regarding the property tax exemption for disabled veterans, their surviving spouses, and minor dependent children. The bill simplifies the eligibility process by stipulating that the required documentation from the Department of Veterans Affairs only needs to be submitted one time, rather than annually. Taxpayers are required to notify the county collector if their eligibility status changes, if there is a change in the property description or ownership, or if they move to a new homestead. The bill also grants county collectors the authority to remove an exemption if it was granted in error. Furthermore, it allows collectors to retroactively levy up to three years of unpaid property taxes, along with associated penalties, interest, and costs, in instances where an exemption was erroneously granted.