FINANCIAL ADVANTAGE
Additional Benefits For Arizona Veterans
Arizona Veterans and their families may qualify for valuable state and federal benefits that can lower property taxes, reduce higher-education costs, and make homeownership more affordable. Understanding the Arizona disabled Veteran benefits available to you—from property tax exemptions to tuition waivers and VA-backed home loans—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Exemptions for Veterans in Arizona
- Veterans with a 100% service-connected disability can receive a full property tax exemption. Arizona law provides a full property tax exemption for the property of an Arizona resident Veteran with a VA service-connected disability rating of 100%. A qualifying surviving spouse can continue claiming the full exemption as long as the property remains the surviving spouse's primary residence and the spouse does not remarry.
- Veterans with lower disability ratings can still receive property tax relief. Arizona Veterans with a VA service-connected disability rating below 100% may qualify for a partial exemption that is prorated according to their VA disability percentage. Veterans with qualifying nonservice-connected disabilities may also receive a prorated exemption. The statutory exemption amount is adjusted annually to account for inflation.
Family Tuition Assistance
Education Benefits for Arizona Veterans & Families
- Qualifying Purple Heart Veterans can receive a tuition waiver at Arizona public colleges and universities. Veterans who received a Purple Heart, were Arizona residents or stationed in Arizona when the qualifying injury occurred, and have a VA disability rating of at least 50% may qualify for a tuition waiver scholarship at Arizona public universities and community colleges. Admission and other statutory requirements apply.
- Arizona provides tuition waivers to certain military families, too. Tuition waiver scholarships are available to qualifying spouses and children of certain Arizona military members and Veterans, including families affected by death or qualifying disability connected with military service. For qualifying dependents, the waiver is generally limited to 64 community-college credit hours and, at an Arizona university, the credits required for the student's initially declared bachelor's degree, including transferred community-college credits.
Home Financing
Home Loan Benefits for Arizona Veterans
- Eligible Arizona Veterans may be able to purchase a home without a down payment. VA-backed purchase loans can help eligible Veterans and service members buy, build, or improve a primary residence. VA generally requires no down payment when the sales price isn't higher than the home's appraised value, subject to VA eligibility and lender requirements. VA reports that nearly 90% of VA-backed home loans are made without a down payment.
- VA-backed loans eliminate monthly mortgage insurance. Eligible borrowers don't have to pay monthly private mortgage insurance (PMI) or mortgage insurance premiums (MIP) on a VA-backed purchase loan. VA loans may also offer competitive interest rates and terms, fewer closing costs, and no penalty for paying the loan off early.