Feb 25 2010
FL Tax Benefits for qualified Veterans
Our great state of Florida offers many military benefits for Veterans seeking to purchase their new FL home while using their VA Entitlement for a FL VA mortgage. I want to share the following FL VA specific benefit information for qualified Veterans seeking a FL VA home loan. There are specific FL VA benefits regarding homestead tax exemptions which may reduce or even eliminate FL taxes on residential homes.
- According to FS 196.081(1); any real estate owned and occupied (homesteded) by a US Veteran who has a service-connected, permanent and total disability and has been honorably discharged; is exempt from FL property tax. The Veteran home owner must be a permanent resident of FL on January 1st of the year in which the exemption is being claimed.
- FL Veteran home buyers or current Veteran home owners are eligible with a VA service-connected disability of 10% or greater shall be entitled to a $5,000 property tax exemption.
- The exemption of taxation carries over to the spouse in the event event the Veteran is deceased; at least until the spouse remarries, sells or otherwise disposes of the property.
For more information regarding additional FL Veteran benefits with respect to homestead tax exemption; please visit the FL Senate website. And if you or someone you know is a US Veteran requiring more anwswers to their FL VA mortgage questions; please have them contact me anytime.
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