If you are a disabled veteran, in almost every jurisdiction you can petition your local taxing authority to have your real estates waived or reduced.  The following states offer real estate tax deductions:

Illinois:  A qualified disabled veteran can receive an assessment deduction of at least 50% and up to 75% of their assessed value of their primary residence.

Michigan:  A disabled veteran in MI may receive a full property tax exemption on his/her primary residence if the veteran is 100% disabled as a result of service.

Ohio:  A disabled veteran may receive a property tax exemption of  $50,000 if 100% disabled as a result of service.

Indiana:  Primary residence assessment exemptions can be granted up to $37,440 to disabled veterans age 62 and older.

California:  A disabled veteran may receive a full property tax exemption on his/her primary residence if the full value does not exceed $150,000, household income does not exceed $40,000 and veteran is legally blind.

Kentucky:  A disabled veteran may receive a property tax exemption of up to $36,000 on his/her primary residence if the veteran is 100% disabled as a result of service.

Contact your Somerset advisor today to learn more.