Veteran Tax Exemptions in Texas

TAX EXEMPTION FOR VETERANS
Disabled veterans who meet certain requirements, their surviving spouses and the spouses and minor children of a person who dies on active duty in the U.S. Armed Forces are eligible for property tax exemptions on the appraised value of their property. The exemption is mandatory and applies to taxes levied by all taxing authorities in the State. A veteran, whose service-connected disabilities are rated less than 10% by the Department of Veterans Affairs, or a branch of the Armed Forces, is not entitled to a property tax exemption. For those rated 10% or more, the tax exemptions below apply:

Disability Rating
Tax Exemption

10% through 29%
First $ 5,000 of appraised value

30% through 49%
First $ 7,500 of appraised value

50% through 69%
First $ 10,000 of appraised value

70% or more
First $ 12,000 of appraised value

100%
100% Exemption


A veteran whose disability is 10% or more, and who is 65 years or older, is entitled to exemption of the first $12,000 of appraised value of property. A veteran whose disability consists of the loss of use of one or more limbs, total blindness in one or both eyes, or suffers paraplegia, is exempt on the first $12,000 of the appraised value of his property. A veteran who qualifies under more than one of the exemptions may not combine the exemptions, but may take the one providing the largest exclusion. The surviving spouse of a person who dies on active duty is entitled to exemption of the first $5,000 of the appraised value of the spouse's property. A surviving child of a person who dies on active duty is exempt on the first $5,000 of appraised value of the child's property, as long as the child is unmarried and under 21 years of age. The surviving spouse of a deceased veteran who, at the time of the veteran's death had a compensable disability and was entitled to an exemption, is also entitled to that exemption (up to $12,000) if the surviving spouse is unmarried. A surviving spouse is not eligible for a 100% exemption. This law is administered at the local level by the various taxing authorities. For answers to questions about property values, exemptions, agricultural appraisal, and protests to the appraisal review board, or to apply for exemptions, obtain an application from your appraisal district. PLEASE NOTE: APPLICATION MUST BE COMPLETED BETWEEN JANUARY 1 AND APRIL 30

Find more information at http://www.tvc.state.tx.us/StateBenefits.html

FORBES: Austin best economic recovery in U.S.

The Austin-Round Rock area tied for first on a list of large metros where the recession is easing.
Central Texas tied Washington D.C. in the Forbes.com ranking that compiles job growth and real estate industry improvement, among other indicators. Washington has one of the lowest unemployment rates in the nation, 6.2 percent, and the city produced more goods and services than another other in 2008.
Austin has also maintained relatively lower jobless rates, though the number increased to 7.6 percent last month from 7 percent, according to the Texas Workforce Commission. Statewide, the rate was unchanged at 8.2 percent from December to January, compared to 9.7 percent nationally.
Austin and Washington D.C. also benefit from their high government job generation, according to Forbes. The number of Central Texas jobs increased just shy of 1 percent between 2007 and 2009, more than any other city included in the research.
Dallas came in second on the ranking behind Austin. The number of jobs there are expected to increase more than 7 percent in the next three years. San Antonio and Houston also made the top 10 list.
Job growth projections were based on information from Moody's. The listing also considered median home sale price changes and Metropolitan Gross Domestic Product.
Monday, March 8, 2010, 10:20am CST | Modified: Monday, March 8, 2010, 10:25am
See the article: http://austin.bizjournals.com/austin/stories/2010/03/08/daily2.html?ed=2010-03-08&ana=e_du_pub