Wednesday, April 10, 2019

Do You Qualify for a Tax Exemption?

We are helping the SIL get settled in and one of the things on our "to do" list was getting her set up for any tax exemptions she might qualify for.  Many areas have tax exemptions for people, sometimes for seniors, sometimes for veterans, and sometimes for the disabled. Since she is a disabled senior citizen veteran she is rocking all three of these qualifiers!

Tax exemptions usually provide rebates or discounts on the taxes you need to pay like the property tax that you pay for your home or the real property tax you pay when you register your vehicle every year.  In our area, veterans and disabled veterans qualify for a tax discount which you can use on your home and/or car and it is as simple as signing up once at the county office.

Hubby uses his veteran's tax exemption each year when we register our cars and it saves us a couple hundred dollars each time which is a wonderful discount!  The SIL found out she will receive $700 in annual discounts which is a pretty big chunk of money and well worth the minimal effort needed to sign up for the program.

Everyone should check their local jurisdictions (city, county, state) and see if there are any sort of programs like these that they qualify for.  These programs are especially valuable for seniors and people who live on a fixed income because, while they may own their home free and clear, if they live in an expensive area, it can help them pay their annual property tax which often increases exponentially each year.

No comments:

Post a Comment