Tax Reduction Available For Veterans and Seniors
Veterans and seniors can apply for a tax reduction or a tax deferral. Keep in mind that not everyone who applies receives the reduction or deferral. The state and community you reside in may vary from other states and communities. If you do not qualify, you can ask for installment payments on your property taxes.
The property tax for a veteran who owns a property that is their primary residence is eligible to receive a discount, but they do have to meet certain guidelines in order to qualify. The veteran must have received an honorable discharge, have some partial disability and be at least sixty-five or older. Residency requirements might also vary depending on your state. Veterans can contact and apply with the county's tax registrar to find out if they qualify. Veterans needs be aware that every community has different guidelines that may be more laxed or stricter qualification for reductions and discounts.
Seniors can apply for a tax deferral specified by the community that they reside in at the time. This tax deferral program provides seniors with more time to make a payment on their property taxes. Seniors are required to meet certain income guidelines and age requirements. Seniors who wish to utilize this tax deferral must talk with the taxing committee and fill out the application. Permanently disabled homeowners should know that they can apply for property taxes exemptions. The guidelines for this particular situation do vary between states, and the applicant should check with the county clerk for the guidelines and application process.
To summarize deferrals and reductions in property taxes, one would say that veterans can receive a reduction of taxes, but they may only receive a percentage that meets with the guidelines of the qualifications. It is all up to the taxing committees whether you are accepted or denied. Not everyone is going to receive a deferral or a reduction just because he or she falls into one of these categories.