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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

I own my home, paid for, no mortgage. I have a 100 percent service-connected disability status, but not from combat injuries. I’ve been told that since I am 100 percent service disabled, I should receive a break on my real estate taxes. I was also told, that since my disability is not from combat, I'm not eligible for a tax break. I would appreciate your input. Thanks. -Charlie

Answer:

According to the New Jersey Department of the Treasury website, as a disabled veteran with wartime service you and your surviving spouse would be eligible for a full real estate tax exemption. Neither the information nor the application form specifies “combat injuries” as a requirement for the exemption. So, in our opinion your eligibility probably hinges on whether or not you served during any of the war-time service periods outlined in the application form. We think you should apply for the exemption or at the very least contact the New Jersey Department of Military and Veterans Affairs at (609) 530-6958 to explore your eligibility. Good luck and thank you for your service.