What’s going on, guys? This is Raoul here, and today we’re going to hit on the Disabled Veterans Property Tax Exemption.
There’s a lot of different things going on, and even myself included, when I first purchased my home, try to decipher the code of what exactly am I getting or do I have to pay for Property Taxes being a certain percentage of disability?
Well, in this video, we’re going to just break down the simplicity of it and just to give you guys something to go off. But when it comes down to you, actually a plan, you want to get all the details and the specifics on it from your appraisal district.
Now, if you are between 10 and 90 percent disabled, there is a chart that you’re going to have to go off and it’s basically going to tell you how much dollar amount is exempt from Property Taxes.
So when you look at, say, 70% disabled, it goes to $12,000. So what are they going to do is take the Assessed Value of that property and say, for example, if it’s $200,000, they’re going to deduct the $12,000 from the top value and only tax you on $188,000. Get it?
That’s pretty much what it all boils down to. Now it gets a little bit more, I say complicated when you are at a 100 percent disabled because you don’t pay any property taxes associated with the value of your home. There are some types of taxes out there like school and a couple of the things that you will have to pay being 100 hundred percent. But once again, that would be something that you will definitely get from your Tax Assessors. So I hope that helped. If you have any questions, feel free to leave a comment below or just reach me at info@readyfrontrealestate.com. And I look forward to the next video.
