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Disabled Veteran Tax Exemptions in Texas
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| Guest post by: Patrick Oconnor |
Article Overview: In Texas a disabled veteran's tax exemption is not the same as a disabled person's tax exemption.
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Free Download - Cost Segregation - Tax Deductions(Business Taxes) By Patrick Oconnor |
Disabled Veteran Tax Exemptions in Texas
In Texas a disabled veteran'stax exemptionis 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. Related Articles
Article Tags: property tax appeals, property tax consultants, Property tax reduction consultants, property tax reduction services, tax deduction consultants, tax deduction services
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About the Author: Patrick Oconnor RSS for Patrick's articles - Visit Patrick's website O’Connor & Associates is a national provider of commercial real estate consulting services including cost segregation services, federal tax reduction, due diligence, renovation upgrading cost analyses, tax return review and apartment inspections. Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction. Check Patrick O Connor at Google Plus Click here to visit Patrick's website Tips Tricks for Appealing Property Taxes Tax Reductions through Cost Segregation Utilize the Online Apartment Search Service to Identify 5 to 20 Apartment Projects Cost Segregation Tax Deductions Tax Deferral or Tax Reduction Cost Segregation |
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