Texas is not only home to the highest number of Veterans in the country, but it also boasts a substantial list of financial benefits all Veterans deserve, especially those who were wounded or disabled as a result of their service to our country. A VA disability rating can greatly impact the extent of the benefits you can receive, which can have a direct and immediate impact on your financial health.
Taxes, housing, and education are some of our highest national expenses. If you have been injured while serving our country, you could be eligible for more extensive benefits within these areas. Let’s examine the benefits each of these provide to our Veterans and how a disability rating can impact your eligibility.
Property Tax Exemption: In Texas, there is a direct correlation between a Veteran’s disability rating and the amount of property tax exemption they can receive. Depending on the percentage of disability rating, the amount of exemption can vary.
For instance, Veterans with a 100% disability rating receive a total property tax exemption. Those with a rating of 70% and higher receive a $12,000 property tax exemption; from 10% to 69%, property tax exemptions range from $5,000 to $10,000. Source: Property tax breaks, disabled Veterans exemptions (traviscountytx.gov)
These dollar amounts significantly fluctuate based on disability rating and can have a tremendous impact on your financial future. .
Veteran Home Loans: With skyrocketing mortgage rates, improving your disability rating could help ease some of that financial burden.
Through the VA and Texas Veterans Loan Program, disabled Veterans can access low-interest home loans with little-to-no money down, and these benefits vary based on disability rating. For example, Veterans with a 10% or greater service-connected disability rating are exempt from the VA funding fee when the loan is underwritten as a VA loan. Veterans with a 30% or greater service connected-disability rating receive an interest rate discount of an additional 0.5%. Sources: https://s3.glo.texas.gov/vlb/loans/home-loans/ and Mortgage Loan Benefits for Disabled Texas Veterans (valoanstexas.com)
Education Programs: The average cost of a four-year Texas public college is estimated to be $8,600. Through the Spouse/Dependent Hazlewood Act, the spouse or child of a Veteran with a 100% disability rating, or one who is declared as Missing in Action (MIA), or Killed in Action (KIA), provides tuition exemption for up to 150 hours — or five years of higher education — at public colleges and universities in Texas. It does not cover living expenses, books, or supply fees. Source: Hazlewood and Education Services – Texas Veterans Commission
As a Veteran, you’ve already invested so much in our country. By partnering with REE Medical to obtain a Disability Benefits Questionnaire or Nexus Letter for your disability rating review claim, you can save valuable time and resources and focus on the things that matter most to you.
Reach out to our team to see if REE Medical’s disability rating review services are a fit for your case.