* * *
(c) Reduction in assessed value of property.--
(1) A person who is a resident of this Commonwealth and
who does not qualify for the exemption under subsection (a)
is entitled to a reduction in the assessed value of the
person's property, for the purposes of real estate taxes
levied upon a building, including the land upon which the
building stands, occupied by the person as a principal
dwelling, as prescribed in paragraph (2), if all of the
following requirements are met:
(i) The person has been honorably discharged or
released under honorable circumstances from the armed
forces of the United States.
(ii) As a result of military service, the person has
a service-connected disability declared by the United
States Veterans' Administration or its successors to be a
disability of at least 10%.
(iii) The dwelling is owned by the person solely,
with the person's spouse or as an estate by the
entireties.
(iv) The need for the reduction in the assessed
value of the person's property, for the purposes of real
estate taxes, has been determined by the State Veterans'
Commission in compliance with the requirements of this
chapter.
(2) A person who has met the conditions under paragraph
(1) is eligible for a reduction in the assessed value of the
person's property, for the purposes of real estate taxes, as
follows:
(i) For a disability of at least 10% but less than
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