FINANCIAL ADVANTAGE
Additional Benefits for Idaho Veterans
Idaho Veterans and their families may qualify for valuable benefits that can reduce property taxes, lower the cost of higher education, and make homeownership more affordable. Understanding the Idaho disabled Veteran benefits available to you—from property tax relief to dependent education assistance and VA-backed home loans—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Benefits for Veterans in Idaho
- Qualifying disabled Veterans can reduce their Idaho property tax bill by as much as $1,500. Idaho's Property Tax Benefit for Veterans with a 100% Service-Connected Disability applies to a qualifying Veteran's primary residence and up to one acre of land. Veterans generally must be recognized by the VA as having a 100% service-connected disability or receive 100% VA compensation because of individual unemployability. The program has no income limit.
- The benefit can continue for an eligible surviving spouse. Once the property tax benefit has been granted to a qualifying Veteran, a surviving spouse may continue receiving it. However, Idaho specifies that the benefit isn't transferable to a different property after the Veteran's death. Veterans with documented permanent and total disabilities don't need to reapply annually; their benefit renews automatically.
Family Tuition Assistance
Education Benefits for Idaho Veterans & Families
- Eligible spouses and children of qualifying military members can receive a waiver of tuition and fees. Idaho's Armed Forces and Public Safety Officer Dependent Scholarship provides qualifying undergraduate students with a waiver of tuition and fees at eligible Idaho colleges and universities. The program covers certain dependents of military members who were killed, imprisoned or missing in action, or became qualifyingly disabled or unemployable due to military service.
- The scholarship can also help pay for books, housing, and living expenses. In addition to tuition and fees, qualifying students may receive up to $750 per semester for books, along with eligible on-campus housing and subsistence assistance. Benefits are generally limited to 36 months or four nine-month academic periods, subject to the program's eligibility requirements.
Home Financing
Home Loan Benefits for Idaho Veterans
- Eligible Idaho 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. The VA generally allows no down payment when the sales price isn't higher than the home's appraised value, subject to VA eligibility and lender credit and income requirements.
- VA-backed home loans don't require monthly mortgage insurance. Eligible borrowers don't have to pay monthly private mortgage insurance (PMI) or mortgage insurance premiums (MIP). VA-backed loans may also provide competitive financing terms, fewer closing costs, and no penalty for paying the loan off early.