Texas - Qualified veterans pay no taxes on their homes due to new law

[DragonFlyer]

This is a radio interview on KILT 100.3 radio. I know the people in the interview, and they are spreading the word about the veteran benefits unique to the state of Texas. I thought I would pass the info along to anyone who may qualify!

 

http://media.causes.com/ribbon/568928 (on Facebook)

 

http://kilt.com/play_window.php?audioType=...audioId=3993339 (from the KILT website)

[Moorlock21]

Texas has always been good for veterans benefits.

 

Depending on what county you live in in California disabled veterans can be exempt from property taxes. I'm exempt up to $171,000, the maximum in Riverside County. It depends on the % disabled by either the VA or Branch of service and income.

 

 

Joe

[DragonFlyer]

Yes, there are great benefits for veterans in Texas!

 

Some states are a bit weak on the benefits, and others are very veteran friendly. If you ever wish to review the benefits offered in each state, Military.com has a directory on their site that outlines the benefits found in each state:

 

State Veteran Benefits Directory

 

Each state manages their own veteran benefit program. These benefits may include educational grants and scholarships, special exemptions or discounts on fees and taxes, home loans, veteran's homes, free hunting and fishing privileges, and more.

[DragonFlyer]

More info on the Texas homestead exemption, which was recently released:

 

http://www.glo.state.tx.us/vlb/docs/vethomeexemption.pdf

 

Excerpt (it's actually 3 pages of info...this is just an intro of info)

 

Questions and Answers about the New 100% Disabled Veteran’s Homestead Exemption

 

The Texas Legislature recently passed HB 3613. This bill provides for a 100% exemption for the residence homestead of qualified disabled veterans. The bill also increases the amount of the regular disabled veteran's exemption for veterans who have a disability rating of 30%, 50%, or 70%. Below are some commonly asked questions and answers about the new 100% disability homestead exemption.

 

Q. What are the qualifications for the new exemption?

You qualify for the new 100% homestead exemption if you meet these requirements:

• You own a home and occupy it as your residence homestead.

• You are receiving 100% disability compensation from the US Department of Veterans Affairs for a service-connected disability.

• You have a disability rating of 100% disabled or of individual unemployability.

To get this exemption, you must fill out and return to your County Appraisal District Office this Texas Property Tax Form 50-764. Please note that, at the time this Q & A was created & posted, Form 50-764 had “TEMPORARY†printed at the top in red. The Comptroller’s office is, now, drafting a final document. This does not mean that the exemption is temporary. It is simply a reference to the status of the form, itself.

You must attach documentation as well. You must attach a copy of your award letter, a “VA tax letter,†or another document from the United States Department of Veterans Affairs showing 100% disability compensation due to a service-connected disability and a rating of 100% disability or of individual unemployability.

Q. How much of my home’s value will it exempt?

If you qualify, your home will be totally exempt from property taxes in all jurisdictions, regardless of the home’s value. If you co-own the home with someone other than your spouse, your share of the home’s value will be exempted.

[TheColonel]

I think almost every state has some sort of property tax exemption for disabled veterans. Texas and Florida are especially generous.

[DragonFlyer]

I think almost every state has some sort of property tax exemption for disabled veterans. Texas and Florida are especially generous.

 

You are correct!

 

It is covered in this thread, in case anyone is curious what their state tax benefit would be for their home (or other benefits like license plates, tuition assistance, etc.): Directory of veteran benefits by State

 

I was really pleased to see Texas setting the trend for other states to follow. Some states are not as generous as others...but the benefit is definitely there no matter where you happen to reside. Unfortunately, a lot of veterans and their families don't get the information or benefit unless they know to ask for it. Feel free to pass this to anyone who has served and can use it!