Disabled Veteran Tax Exemptions In Texas

In Texas a disabled veteran's tax exemption is not the same as a disabled person's tax exemption

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To receive a disabled veteran tax exemption, you must be either a veteran who was disabled while serving with the U.S. armed forces or the surviving spouse or child (under 18 years of age and unmarried) of either a disabled veteran or of a member of the armed forces who was killed while on active duty.

In order to qualify for a disabled person tax exemption, you cannot engage in gainful work because of physical or mental disability or you are 55-years-old and blind and cannot engage in your previous work because of your blindness. If you receive disability benefits under the federal Old Age, Survivors and Disability Insurance Program administered by the Social Security Administration, you will qualify for the disabled person tax exemption.

The tax exemption amount that a qualified disabled veteran receives depends on the veteran's disability rating from the branch of the armed service:

Disability RatingExemption Amount

10% to 30%$5,000 from the property's value

31% to 50%$7,500 from the property's value

51% to 70%$10,000 from the property's value

71% to 100%$12,000 from the property's value

The disabled veteran must be a Texas resident and must choose one property to receive the tax exemption for all property tax purposes.

To file for a disabled veteran's tax exemption, you must complete the Application for Disabled Veteran's or Survivor's Exemption form. The deadline for filing for a disabled veteran's exemption is between January 1 and April 30 of the tax year. However, you may file for a disabled veteran's exemption up to one year from the delinquency date.

Minimizing taxes includes regularly appealing property taxes and considering options for income tax reduction. In some cases, tax planning needs to occur years in advance. For estate tax planning, it may be prudent to start decades in advance. Some tax reduction options can be performed after the fiscal year has ended, including a fixed asset audit, cost segregation study and abandonment study.

Minimizing taxes requires a modest investment of time. High-income taxpayers are often reluctant to divert time from production activities. However spending two to four hours with an advisor often reduces taxes by 20 - 50 %. IN some cases, it is possible to completely eliminate taxes for several years. This modest investment of time can substantially increase after-tax income.

by: Patrick O Connor

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