Permits municipalities the local option of providing a tax exemption to National Guard members and reservists

This bill allows municipalities to offer a 5% real property tax exemption for primary residences owned by National Guard members or reservists. It defines "qualified owner" as active or retired military personnel and requires annual applications with military service verification. The exemption applies only to residential property used as a primary home (excluding non-residential portions) and cannot be combined with other military tax benefits. Municipalities must choose to adopt this option locally through their own ordinances.