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How the Disabled Veteran's Market Value Exclusion works
Beginning with property taxes paid in 2009, disabled veterans who meet the qualifications may apply for one of two levels of market value exclusion from property taxes on their homesteads:
All qualifying disabled veterans other than those with 100% permanent disabilities must reapply every year. And of those who must reapply, all veterans with disabilities NOT rated as permanent must ALSO supply a new letter from the VA updating the veteran’s disability status. The reapplication is done at the assessor’s office, and a copy of the updated letter must be presented to the assessor as well.
The application deadline is July 1.
If the qualifying veteran sells his home during an eligible year, the exclusion stays with the home for that year of the sale. The exclusion can not be transferred to another home until the next payable year.
Only homesteads owned and occupied by the qualifying veteran are eligible for the exclusion. Upon a married veteran’s death, one of two spousal survivorship scenarios will occur: