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The Disability Property Tax Exemption Explained

In many states, disabled homeowners, including veterans with disabilities, are eligible for property tax exemptions. These tax exemptions can significantly reduce a disabled homeowner’s annual tax burden.

Exemptions are different for disabled individuals and disabled veterans

Veterans with disabilities quality for state-level tax exemptions in most cases. However, in some states, disabled individuals who are not veterans but who qualify for Social Security disability benefits may also qualify for a tax exemption. Indiana offers tax deductions for individuals with certain disabilities and for disabled veterans. In both cases, the individual must meet specific criteria in regards to income levels, disability and age.

Exemption amounts vary depending on circumstance

Tax exemptions are set at both local and state levels. This means that there is no one-size-fits-all property tax exemption. For example: the state of Indiana offers tax exemptions for disabled veterans and disabled homeowners. Under this exemption, disabled veterans can qualify for an assessed property value reduction of up to $24,960. To qualify, veterans need to have a minimum service-related disability of 10%. A homeowner who is completely disabled or blind can qualify for an assessed value reduction up to $24,960.

When to seek help getting an exemption

Property tax exemptions vary not only by state but by individual case and by property location. It may be worthwhile to explore the possibility of a tax exemption because even a small exemption can make a big difference in a person’s property taxes.

An attorney with experience in the area of veterans’ benefits may help a disabled veteran navigate the complexities of Indiana’s tax code to find out about the various exemptions and benefits that are available.