Senate Bill 107 goes into effect for the tax year 2015 payable in 2016.
What does this mean?
If you qualified for the earlier law, your name will be on a list kept by our county assessor’s office as a homeowner who receives tax relief because of their level of disability.
The assessor’s office automatically sends out renewal forms to veterans that qualified the previous year. The eligible veteran must complete the form and return it to our office to certify their level of disability.
The new bill allows veterans with a disability range of 30% to 49% to also quality for the “Veterans Homestead Exemption”, you will need to provide to the assessor’s office proof and percentage of disability, this can be proved by the following documents:
(1)Your Department of Defense discharge form, OR
(2)Your DD214, which proves you are a military veteran
(3)Your award letter from the U.S. Department of Veteran Affairs certifying your level of service-connected disability
As an example, if you own a home valued at $180,000, the assessed value is $60,000. If you are eligible for the veteran’s disability and have a disability rating of 30% to 49%, you will receive a deduction of $6,000 for an “Owner Occupied Exemption” and a deduction of $2,500 for the “Disabled Veteran Exemption”. This will lower your assessed value to $51,500.
Likewise, if you have a disability rating of 50% to 69%, you will receive the $6,000 “Owner Occupied Exemption” plus a $5,000 “Veterans Disability Exemption”. This will lower your assessed value to $49,000. The actual tax bill will be determined by the tax rates of the taxing bodies, such as schools and townships.
If you have a 70% disability rating or more, your home is exempt from all property taxes.
The Washington County Assessor’s Office is located in the Community Center, 455 S. Washington St., Nashville. Phone 618-327-4800, X 325.