Understanding Property Tax Benefits for VA Disability in Ohio

Ohio offers various property tax relief options for veterans with disabilities‚ including the Homestead Exemption and specific reductions based on disability ratings. Understanding these benefits is essential for eligible veterans to minimize their property tax burden effectively.

Understanding Property Tax Relief for Veterans in Ohio

1. The Homestead Exemption

The Homestead Exemption is a program designed to provide property tax relief to eligible homeowners‚ including seniors‚ disabled individuals‚ and veterans. This program allows qualifying individuals to exempt a portion of the value of their primary residence from taxation.

Eligibility Criteria

  • Must own and occupy the home as the primary residence as of January 1.
  • Must be a veteran of the armed forces with an honorable discharge.
  • Surviving spouses of veterans or first responders killed in the line of duty may also qualify.

2. VA Disability Ratings and Property Tax Reductions

Ohio provides specific property tax reductions based on the disability rating assigned by the Department of Veterans Affairs (VA). The following outlines the exemptions available:

  • 100% Disability Rating: Fully exempt from property taxes.
  • 70-99% Disability Rating: Exemption of $12‚000 from the taxable value of the property.
  • 50-69% Disability Rating: Exemption of $10‚000 from the taxable value of the property.
  • 30-49% Disability Rating: Exemption of $7‚500 from the taxable value of the property.
  • 10-29% Disability Rating: Exemption of $5‚000 from the taxable value of the property.

3. Additional Benefits for Seniors and Disabled Persons

In addition to the Homestead Exemption‚ seniors aged 65 years or older‚ as well as permanently and totally disabled individuals‚ may qualify for further property tax relief. Recent legislation has adjusted the income threshold for this exemption‚ allowing more individuals to benefit from it.

Income Thresholds

As of 2024‚ the Ohio Adjusted Gross Income (OAGI) limit for new applicants to qualify for the Homestead Exemption has been set at $38‚600. This threshold may change annually based on inflation‚ providing ongoing support for eligible homeowners.

Application Process

To apply for property tax relief‚ veterans must complete the following steps:

  1. Obtain and complete the DTE Form 105H‚ Addendum to the Homestead Exemption Application.
  2. Provide proof of age and current residency‚ such as a valid Ohio driver's license.
  3. Submit the application by the specified deadline‚ which is typically set for January 1st of the tax year.

Ohio’s property tax relief programs for veterans with disabilities provide significant financial support. By understanding the various exemptions available and the eligibility criteria‚ veterans can take advantage of these benefits to alleviate their property tax burdens. It is crucial for eligible individuals to stay informed about changes in legislation and application requirements to maximize their potential savings.

Resources

For more detailed information‚ veterans are encouraged to visit the Ohio Department of Taxation website or contact their local county auditor's office for assistance regarding property tax exemptions.

tags: #Property #Tax #Rate

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