REal Thoughts September 5, 2024

Veteran’s Real Estate Tax Exemptions in PA

One of the downsides of owning a home is paying property tax. Luckily, many Veterans are exempt, since almost every state offers some sort of property tax exemption to service members and their surviving spouses.

While every Veteran’s situation is different, many states only offer property tax exemptions for wartime Veterans, disabled Veterans, surviving spouses, Veterans over 65 years old, Veterans with low income and more.

Each state’s requirements for property tax exemptions will be different and the total exemption amount will change based on those requirements. Veteran homeowners should contact their local municipal tax assessor’s office for the exact exemption amount. There are many factors impacting the total tax exemption or credit you’ll receive such as disability rating, assessed property value, your age and income.

In Pennsylvania, a new state law excluding all veterans’ benefits from the income assessment in the Disabled Veterans’ Real Estate Tax Exemption Program was put into place on June 17, 2024, and took effect on August 16, 2024.

If you were previously denied this benefit based on your income, you can look into reapplying. You need to file a new application since the law isn’t retroactive.  To find out more, visit the Department of Military and Veterans Affairs website.

 

Source: Guina, R. (2024). Property Tax Exemptions for Veteran Homeowners. The Military Wallet