FINANCIAL ADVANTAGE
Additional Benefits for Maryland Veterans
Maryland Veterans and their families may qualify for valuable benefits that can eliminate property taxes, reduce higher-education expenses, and make purchasing a home more affordable. Understanding the Maryland disabled Veteran benefits available to you—from property tax exemptions to education scholarships and state homebuyer programs—can help you make the most of the benefits you’ve earned through military service.
Tax Relief
Property Tax Exemptions for Veterans in Maryland
- Qualifying 100% disabled Veterans can receive a complete property tax exemption on their primary residence. Maryland exempts the dwelling of a Veteran whom the VA has determined has a 100% service-connected, permanent and total disability. The qualifying dwelling must be owned by the Veteran and used as their principal residence.
- Certain Veterans receiving individual unemployability may also qualify. Maryland states that the exemption may be granted when a Veteran's disability rating is below 100% if the VA determines the Veteran is permanently unemployable. Certain surviving spouses can also continue or receive the exemption when statutory requirements are met.
Family Tuition Assistance
Education Benefits for Maryland Veterans & Families
- Children and spouses of qualifying disabled or deceased service members may receive substantial education assistance. The Edward T. and Mary A. Conroy Memorial Scholarship Program includes qualifying sons, daughters, and stepchildren of Armed Forces members who died because of military service or suffered a 100% permanent service-connected disability because of military service. An unmarried surviving spouse of a qualifying service member may also be eligible.
- Disabled Veterans themselves may also qualify. A Maryland Veteran with a service-connected disability of at least 25% may qualify for the Conroy Scholarship after exhausting or becoming ineligible for federal Veterans' educational benefits. The program can support eligible undergraduate, graduate, professional, certificate, and private career school education.
Home Financing
Home Loan Benefits for Maryland Veterans
- Veterans receive special eligibility under the Maryland Mortgage Program. An eligible Veteran using the Veteran exemption for the first time does not have to be a first-time homebuyer to qualify for the Maryland Mortgage Program. Veterans purchasing in designated Targeted Areas may also qualify for Maryland Mortgage Program products without meeting the first-time-homebuyer requirement.
- Maryland Mortgage Program loans can provide home financing and purchase assistance. The program offers 30-year fixed-rate mortgage products along with various down-payment and closing-cost assistance options. Eligibility depends on factors including household income, purchase price, property location, and the particular mortgage product selected.