Hundreds of Injured Vets Now Exempt From Property Taxes
In a perfect world, returning from the battlefield would be a seamless transition for American veterans, but unfortunately, it often doesn’t work out that way. One of the most pressing concerns facing veterans, particularly those injured in the line of duty, when they come home is their financial situation, which can lead to veterans going hungry or even ending up homeless. That’s why more and more states offer property tax exemptions for injured veterans.
Oklahoma Governor Mary Fallin signed an Oklahoma bill into a law, which went into effect Nov. 1, 2016, According to KFOR, that provides a property tax exemption to many of its injured veterans. Called a homestead exemption, it applies to any disabled veteran with an income below $20,000. Disabled veterans also don’t have to count disability into their income.
The issue of veteran homelessness has gotten national attention and for good reason, but property tax exemptions like these could help stop the problem before it starts. That’s not the only veteran’s issue where this exemption could help, as Representative Dustin Roberts noted: “We have 22 veterans a day that commit suicide and, you know, a lot of it is income related or PTSD related.”
Oklahoma is now one of many states that offer different manners of relief or tax exemptions for veterans, and Veterans United Network reports that more than half the United States offer some type of property tax exemption. Conditions vary depending on the state, the extent of the veteran’s disability, total household income and other factors, but every exemption gives veterans the type of help they deserve after fighting for our country.
Property tax exemptions like the one Oklahoma passed make sure our veterans don’t have to stress out about their housing situation when they return home. Lawmakers aren’t the only ones fighting for our veterans, as the National Association of Realtors made a program to help military families whose homes were in danger of foreclosure. Sign here to thank and support the association for all that they do.