You are in: Home > Taxes

Disabled Veteran Tax Exemptions in Texas

20th August 2009
By Patrick OConnor in Taxes
RSS Legal RSS    Views: N/A

In Texas a disabled veteran's tax exemption is not the same as a disabled person's tax exemption.

To receive a disabled veteran tax exemption, you must be either a veteran who was disabled while serving with the U.S. armed forces or the surviving spouse or child (under 18 years of age and unmarried) of either a disabled veteran or of a member of the armed forces who was killed while on active duty.

In order to qualify for a disabled person tax exemption, you cannot engage in gainful work because of physical or mental disability or you are 55-years-old and blind and cannot engage in your previous work because of your blindness. If you receive disability benefits under the federal Old Age, Survivors and Disability Insurance Program administered by the Social Security Administration, you will qualify for the disabled person tax exemption.

The tax exemption amount that a qualified disabled veteran receives depends on the veteran's disability rating from the branch of the armed service:


Disability Rating Exemption Amount
10% to 30% $5,000 from the property's value
31% to 50% $7,500 from the property's value
51% to 70% $10,000 from the property's value
71% to 100% $12,000 from the property's value

The disabled veteran must be a Texas resident and must choose one property to receive the tax exemption for all property tax purposes.

To file for a disabled veteran's tax exemption, you must complete the Application for Disabled Veteran's or Survivor's Exemption form. The deadline for filing for a disabled veteran's exemption is between January 1 and April 30 of the tax year. However, you may file for a disabled veteran's exemption up to one year from the delinquency date.

Questions?
E-mail O'Connor & Associates, or call 1-800-856-REAL.

Reduce your property tax by contacting Oconnor & associates.
Oconnor & associates can represent you at the cost segregation.
This article is free for republishing
Source: http://www.goinglegal.com/disabled-veteran-tax-exemptions-in-texas-1044220.html
Bookmark and Share
Republish




Ask a Question about this Article

powered by Yedda