Disabled Veterans Benefits in Florida: VA Loans and Property Taxes
The Department of Veterans Affairs and the State of Florida both provide additional benefits for disabled Veterans in relation to the VA financing and homes they purchase. Almost every Veteran whose disability condition was a result of injuries incurred while in service is eligible for a VA mortgage, even if they were not able to serve the minimum number of active duty days required.
These benefits for disabled Florida Veterans are available to eligible Veterans, as well as to unmarried surviving spouses of an eligible Veteran who died in service or as a result of service-related injuries.
Disabled Veteran VA Home Loan Benefits
- Veterans with a 10% or greater disability rating are exempt from the VA funding fee.
- Disabled Veterans may be eligible to apply for Specially Adapted Housing (SAH) grants for modifications to temporary or permanent residences. For more information on SAH grants click this link to the Department of Veterans Affairs website.
- Any real estate property owned and used by any quadriplegic is exempt from taxation. Any veteran who is paraplegic, hemiplegic, rely on a wheelchair for mobility, or legally blind, may be exempt from real estate taxation. Determine if your gross annual income qualifies with your local property tax appraiser. Veterans must be a Florida resident.
- Tax Exemption benefits carry over to the spouse upon death of the veteran until they remarry, sell, or dispose of the property. If spouse sells the property, and the exemption doesn’t exceed the most recent ad valorem tax amount, it may be transferred to the new property given it is the primary residence and the spouse does not remarry.
Florida Veteran Property Tax Exemption Benefits
- Honorably discharged Veterans who have a total and permanent service-related disability (aka 100% disabled) may be eligible for a complete exemption from taxes on their personal home.
- A separated Veteran who has been honorably discharged and has a disability rating of 10% or greater may be eligible for a $5000 reduction in their property’s assessed value.
- Veterans who are age 65 or older and are partially 100% disabled may be able to receive a discount on the assessed value of a home they own and use as a personal homestead.
- The discount is equivalent to the percentage of the Veteran’s service-connected disability rating as designated by the Department of Veterans Affairs.
- Active duty or separated members of the U.S. Military or Military Reserves, The U.S. Coast Guard or Reserves, or the Florida National Guard may be eligible to receive and exemption if they were deployed in support of a designated operation outside the United States during the previous year.
- The percentage of taxable property value that is exempt corresponds with the percent of the time during the prior year that the service member was deployed.
- Service members entitled to the tax exemption and are unable to file due to being an active duty service member may file through the next of kin or a duty authorized representative.
Additional information about property tax benefits for Veterans living in Florida can be found on this short YouTube video from the Florida Department of Revenue and here from the Florida Department of Veterans’ Affairs.
Florida Hometown Heroes Housing Program
This program administered by the Florida Housing and Finance Corporation ensures that active military and veterans receive assistance purchasing their first home. The program aids with down payment and closing costs for first time, income qualified veterans buying homes in the communities they serve.
Qualifications for the program include, connecting with a participating loan officer, minimum credit score of 640, proof of veteran status, and meet the income requirements for their county.
For more information on how this program aids veterans and their loved ones, please visit https://www.floridahousing.org/hometownheroes
Please note: Guaranteed Rate does not collect for a property tax escrow account at closing when a Veteran is fully exempt from property taxes. The Veteran borrower must provide the application for disability exemption and a VA disability awards letter showing 100% disability.
If you are a disabled Veteran living in Florida and need help understanding your mortgage benefits, please fill out the short form on this page and someone from our team will assist you.
