HB1809

House Bill 1809 amends existing Arkansas law regarding property tax exemptions for disabled veterans, their surviving spouses, and minor dependent children. The bill expands the definition of a 'homestead' to include properties held in certain trusts or limited liability companies (LLCs). Specifically, it allows for a primary residence to qualify for the exemption if owned by a revocable trust formed by the veteran, an irrevocable trust where the veteran is a beneficiary, or an LLC where the veteran (or the veteran and their spouse) are the sole members. To claim these exemptions for these ownership structures, the bill requires the veteran to provide specific documentation, such as a notarized copy of the trust or proof of eligibility, to the county collector. These changes are scheduled to become effective for assessment years beginning on or after January 1, 2026.