Boston Mayor Michelle Wu plans to end the city’s annual Veterans Day Parade by signing legislation passed by the City Council that will adjust the property tax exemption for veteran homeowners to reflect cost-of-living increases.

The order that will provide a tax break to veteran homeowners in Boston was first introduced by the Council Vice President Brian Worrell, who will be present and speak at Saturday’s signing ceremony, in August, and approved by the City Council last month.

The measure will expand the property tax exemption for veterans, Worrell’s office said in a prior statement issued upon the Council’s approval.

“Boston is a leader on veterans issues and I’m glad to see the City Council take a stand to help our disabled veterans receive even more relief,” Worrell said in a statement at the time. “Our city always opts to provide the maximum relief for its homeowners under the state tax code, maxing out the residential exemption, senior exemption, and veterans exemption.

“This order ensures we do that going forward with veterans under the new state rules,” he said.

Co-sponsored by City Council President Ruthzee Louijeune, the order followed Gov. Maura Healey’s signing into law the HERO Act, “which provides an array of benefits for veterans, including the ability for cities to increase the residential property tax exemption for veterans by adjusting it for inflation over time,” Worrell’s office said.

Upon the mayor’s signing of the measure on Saturday, the exemption will go into effect for fiscal year 2026, which begins on July 1, 2025. In fiscal year 2024, 1,156 veterans were granted the exemption, at a total of $1.12 million in savings, Worrell’s office said.

Worrell said he was confident that “Boston is in a strong enough position to offer this relief to its disabled veterans starting next year.”

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The order come as the mayor’s controversial plan to raise commercial tax rates to provide relief for homeowners is being considered by the state Legislature.

Robert Santiago, the city’s veterans services commissioner, will also be on hand when the mayor signs the order into effect, at approximately 12:30 p.m. at the City Hall flagpoles.

“The mayor will also announce grant funding for local organizations that connect veterans with services,” Wu’s office said Friday.

This year’s Veterans Day parade kicks off at noon at the intersection of Boylston and Dartmouth streets in Back Bay. More than 500 participants from veterans groups across the state are expected to take part in the parade, which will end on City Hall Plaza with a flag raising and speaking program.