Boland touts tax relief for veterans

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By Mike Boland | Friday, May 09, 2008 | 6 comment(s)

As a state representative, I have a duty to make sure those who serve in our armed forces have financial assistance available to them when they need it. Over the past few years, I have heard from many veterans who are struggling to stay in their homes because their property taxes are too great of a burden.

To help ease that burden, I and others fought for several years to increase the financial relief available under property tax exemptions for veterans. We have succeeded in creating several exemptions that help veterans and other groups on limited incomes.

One of the most important exemptions gives relief to veterans with disabilities. Under this new law, veterans who are at between 50 and 75 percent disabled can qualify for a $2,500 homestead exemption. Those veterans who are between 75 and 100 percent disabled can qualify for a $5,000 exemption. There is also a new, one-time Returning Veteran Homestead Exemption of $5,000 available for the year in which veterans return from overseas duty.

The Senior Homestead Exemption has also been raised to $4,000. In addition, the Senior Property Tax Assessment Freeze program’s income eligibility level was increased to $55,000, and a new homestead exemption for persons with disabilities was created. And to help keep property tax bills low for all homeowners, the General Homestead Exemption was increased to $5,500.

I’m very proud of these important property tax relief measures. To find out how we can do more or if you have questions, please contact my office at 309-736-3360.

Mike Boland

Moline