Variations in Receipt of Benefit
Benefit Varies with Income
Other Variation in Receipt of Benefits
Veterans with disability ratings from the Veterans’ Administration receive an exemption from assessed value. The amount of the exemption varies according to the disability rating, ranging from $1,500 for ratings between 10% and 25%, and $3,000 for ratings of 75% and above. All veterans with disability ratings who are at least 65 years old receive a $3,000 exemption. In addition, veterans who are receiving compensation from the United States for the loss of a limb may qualify for a $3,000 exemption. Married veterans with household incomes under $21,000, or unmarried veterans with a household incomes under $18,000, receive an additional exemption equal to 200% of their disabled veterans' exemption. Eligible veterans with incomes above the threshold receive an additional exemption equal to 50% of their disabled veterans' exemption.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Characteristics of Eligible Property
Only residential property is eligible for this program.
Description of Eligibility Criteria
Eligible veterans must have received a disability rating of at least 10% from the U.S. Department of Veterans' Affairs. Veterans who have not received a disability rating may qualify if they are receiving federal compensation for the loss of a leg or arm. Surviving spouses are also eligible. In addition, all eligible veterans receive an additional exemption amount based on their income.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
State and local government share the local tax loss
Description of State Funding for Tax Loss
The state reimburses local governments for the cost of providing the additional exemption.