Disabled veterans with a disability rating between seventy (70) percent and one hundred (100) percent have a big property tax break in their future if they act by July of 2008. Contact the Otter Tail County Veterans Service Officer at 998-8605, for complete details. Basically the new rules provide for a 100% reduction in property taxes for a 100% disabled veteran on property valued up to three hundred thousand dollars, as long as the property in question is homesteaded. That means a veteran with a homestead home valued at two hundred thousand dollars (or any amount less than three hundred thousand dollars) could deduct the entire value of his home and pay no property taxes in 2009. Veterans with a disability rating of as little as seventy (70) percent qualify for a deduction of up to one hundred and fifty thousand dollars of the value of their home. These same rules apply to qualifying widows of disabled veterans. Even if a veteran currently qualifies for a property tax reduction of a lesser amount they must re-apply by July of 2008. The paperwork necessary of this tax reduction will be available during the month of June at the county assessors office.
