[OHIO] VA home loan and taxes

[11cvolley]

If a 100% disabled veteran bys a home in Ohio. Are they required to pay property taxes?

[broncovet]

Yes, but you can apply for an ohio property tax exemption for disabled Veterans.

The tax exemption for Ohio disabled Veterans is 50,000.  In other words, if your house is worth less than 50,000 its tax free.  If its worth 75,000, then you pay taxes on 25,000, not 75,000.

There are other Ohio benefits for disabled Vets, here:

http://dvs.ohio.gov/main/library/benefits/BenefitsGuide.pdf

There are other benefits such as free fishing and hunting licenses, and more.  

Just like other stuff, you have to apply.  I "Think" this benefit would also go to your widow, when you pass, also.  In other words, your wife wouldn't have to pay taxes on the first 50,000 of your home after you pass, either.   However, check this out for sure.  

Edited July 26, 2018 by broncovet

[broncovet]

Depending upon the (taxable) value of your home, this can save thousands of dollars per year.  I suggest you apply "pronto".  Contact your (local) county treasury, and ask them for the state form to exempt you from taxes for a disabled Vet.  

It wont affect "past" taxes..only future taxes after you send in the form, so it costs you money each day you delay, because you wont get the exemption until you apply.  

[Buck52]

Move to Texas  you get 100 property tax and school tax exemption   catch is you need to buy the home between Jan 1st &April 30 other wise you pay tax until the next year...this is what it was for us. 

[broncovet]

That is "probably", true, Buck, that if you move to Texas you will save some on property taxes if you are a disabled Vet.  

However, what you save in Texas on property taxes, will be "more than made up for" because Ohio has much, much cheaper housing than Dallas.  In other words you save 200 bucks a month in taxes, but your home costs 1000 per month more.   I would pay about 300,000 in Dallas for the home I could buy in Dayton for about 60,000.  

Akron, Cleveland, and Toledo all have 5400 per year  or less in housing expense.  Thats less than 500 per month, according to this site: https://www.usatoday.com/story/money/personalfinance/retirement/2017/09/25/top-10-cheapest-cities-retire-u-s/699701001/

There are zero toll roads (that I am aware of) in Ohio.  Toll roads are everywhere in Dallas.  

Disabled Vets can live comfortably on the 36,000 or so per year 100 percent, while try buying a 250k home on a disabled Vets income in Dallas.  

Unfortunately, expect the Cleveland Regional Office to hornswaggle you out of SMC and or any thing else they possibly can.  

Edited July 29, 2018 by broncovet

[Buck52]

 We moved out of Dallas, We live in Burleson Tx now. but I hear ya about cheaper places to live...

We save about 600.00 bucks a month drastically reducing our monthly Mortgage Payment.

But people need to be aware of the climate in Tx  the high temps & high Humidity is very hard to deal with. but you get use to it

Has for as housing cost  its high anywhere you want to live anymore.of course we all have choices on that and where we choose to live.

California is a nice state to live , but the housing market there is just ridiculous .

Edited July 29, 2018 by Buck52