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Tax Benefits for Veterans in Virginia

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    • Tax benefits for veterans are usually offered to those injured during service.medals image by Vasiliy Koval from Fotolia.com

      One way governments compensate those who serve in the armed forces for their loyalty is by exempting them from certain taxes after they've been discharged. Veterans who qualify for these benefits are those who've served in either of the two world wars, the Korean War, the Indochina Conflict and the Gulf War. The U.S. Department of Veterans Affairs reports that, as of 2009, 7,358 Virginia veterans had a service-related disability. The Commonwealth of Virginia offers disabled veterans some benefits for state and local taxes, and as of September 2010, further tax legislation was on an upcoming election ballot.

    Disability Payments

    • Veterans who are disabled by injury or disease incurred or aggravated during military services can receive disability compensation from the federal government. These payments are exempt from taxes, both federal and state.

    Municipal Benefits

    • Other tax benefits are available from certain municipalities in Virginia. Virginia Beach, for example, offers a property exemption for disabled veterans. To qualify, a veteran must have lost the use of at least one limb, be blind, or be otherwise permanently disabled as certified by the Department of Veterans Services. That veteran must also provide a written statement to the assessing officer at the Department of Veterans Services certifying that the veteran has been appropriately classified by the department. A veteran qualifying for this exemption receives a tax rate reduction of $1.50 per $100 assessed value on one owned or leased vehicle.

    Ballot Item

    • On November 2, 2010, an item appears on the Virginia State ballot proposing a constitutional amendment that would offer real estate tax relief to disabled veterans. The amendment passed unanimously in both houses of the Virgina Legislature in the 2009-2010 session, and the ballot proposal is the final step toward its passage. A qualifying veteran has a service-connected disability and is exempted from paying taxes on property that he owns and occupies. Said property must also be that veteran's sole dwelling.

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