Arkansas Amends Disabled Veteran Homestead Property Tax Exemption

The Arkansas Governor signed a law amending the property tax exemption for disabled veterans and surviving spouses and minor dependent children of disabled veterans. The law includes expanding the homestead exemption by allowing property claimed as exempt to be owned by: 1) a revocable trust formed by a disabled veteran who is using the property as their principal place of residence; 2) an irrevocable trust for which a disabled veteran uses the property as their principal place of residence and is the beneficiary; and 3) a limited liability company whose only members are, a disabled veteran using the property as ...