Property tax exemption for veterans with disabilities: How you can save

by Susan Coleman 09/22/2024

Home ownership comes with plenty of expenses beyond a mortgage. If you're a veteran with disabilities, you may be able to avoid some common costs of owning a home, including paying property taxes. Here is a guide to some of the ways veterans with disabilities can save on their home ownership tax expenses:

Property tax exemption

Property taxes make up some of the largest expenses homeowners face throughout the life of the home. Usually paid annually, property taxes vary depending on where you live. However, the tax amount is based on factors like the size of the property, livable square footage and major upgrades like swimming pools.

The good news for veterans with qualified disabilities is many states offer property tax breaks and even full exemptions. To find out if you're eligible for this benefit, seek out local government resources or consult a list of participating states online.

Home modification credits

Another way veterans with disabilities can save on home ownership and taxes is with home modification credits. If you make certain improvements or add specific home features to help accommodate your disability, you may be able to claim these expenses as a medical deduction when filing your tax return. Eligible upgrades would include things like wheelchair ramps, widening doorways, chair lifts and any other features meant to improve accessibility at home.

Care expense credits

Married veterans can be eligible for the Child and Dependent Care Credit if they've hired additional care services due to disability. The amount of the credit depends on the amount you spend on care during the tax year as well as combined income levels. Due to recent changes, this credit is also completely refundable, which means you can receive money back even if you don't owe any other taxes.

These are all ways veterans with disabilities can save on the ongoing expenses of owning a home. To find out if you're eligible for any of the above benefits, consult a tax professional.

About the Author
Author

Susan Coleman

I love what I do. I employ skills I’ve honed over a long period of time, to deliver my clients’ dreams. As my tagline says: “Skills that Deliver Your Dreams”. What could be a better occupation than this? To me, it’s not really so much about houses; it’s overwhelmingly about people, their objectives, hopes, fears, nuances. Each client processes very differently the myriad information and emotions involved in conveying property. My focus is to understand their process and deliver them a great experience, not as determined by me, but as defined by my client. I enjoy thinking unconventionally, to