D-2. The estates up to the just value of $7,000 $9,000, having a taxable situs in the place of residence of the unremarried widow or the minor child of any veteran who would be entitled to an exemption under paragraph C-1, if living, or who is in receipt of a pension or compensation from the Federal Government as the widow or the minor child of a veteran, and who is the unremarried widow or minor child of a veteran who served during any federally recognized war period during or before World War I.

The exemption provided in this paragraph is in lieu of any exemption under paragraph D to which the person may be eligible and applies to the property of that person, including property held in a revocable living trust for the benefit of that person.

D-3. The estates up to the just value of $7,000 $9,000, having a taxable situs in the place of residence of the mother of a deceased veteran who is 62 years of age or older and is an unremarried widow who is in receipt of a pension or compensation from the Federal Government based upon the service-connected death of her child and who is receiving the pension or compensation from the Federal Government based upon the service-connected death of her child during any federally recognized war period during or before World War I.

The exemption provided in this paragraph is in lieu of any exemption under paragraph D to which the person may be eligible and applies to the property of that person, including property held in a revocable living trust for the benefit of that person.

Sec. 5. 36 MRSA §653, sub-§1, ¶K, as amended by PL 1975, c. 550, §4, is repealed.

SUMMARY

This bill amends the law governing property tax exemptions for veterans to add $2,000 to the amount of exemption and to eliminate just value as a basis for arriving at the amount of the exemption. Under this bill, the estates of veterans will be exempt from property tax up to the value of specified amounts.