Effective March 23, 2016, Senate Bill 10 has extended the Homestead Exemption for veterans with total service-connected disabilities and their surviving spouses to include veterans who are receiving compensation at the 100% level due to individual unemployability caused by service-connected disabilities regardless of age or income.
The bill also added two new requirements for the exemption which apply to new applicants, namely that the veteran must have been discharged or released from active duty and that the discharge or release was under honorable conditions.
Under this enhanced exemption, disabled veterans are entitled to a homestead reduction in taxes equal to a $50,000 credit of the auditor’s market value of their home. For example, through the Homestead Exemption, a home with the County Auditor’s value of $100,000 would be billed as it is valued a $50,000. The tax savings varies by taxing district.
Veterans will need to provide copies of their DD214 (veteran’s discharge characterization) along with documentation of their disability compensation rating from the U.S. Department of Veterans Affairs.
Applications are available at the Marion County Auditor’s Office or on the Auditor’s web site www.co.marion.oh.us/auditor.
For more information call 740-223-4020.
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