FINANCIAL ADVANTAGE
Additional Benefits For Missouri Veterans
Missouri Veterans and their families may qualify for valuable benefits that can help ease property taxes, cover college costs, and make buying a home more affordable. From tax relief for disabled Veterans to education grants for qualifying military families and Veteran-friendly mortgage programs, Missouri offers several ways to help your earned benefits go further.
Tax Relief
Property Tax Benefits for Veterans in Missouri
- 100% disabled Veterans may qualify for Missouri's Property Tax Credit. Veterans who became 100% disabled as a result of military service may qualify for Missouri's Property Tax Credit based on property taxes or rent paid and household income. The credit currently provides up to $1,100 for qualifying homeowners and $750 for qualifying renters, and 100% service-connected disabled Veterans don't have to include their VA payments and benefits when calculating household income.
- Former POWs with a total service-connected disability get much greater relief. A Missouri resident who is a former prisoner of war and has a total service-connected disability can qualify for a complete property-tax exemption on real property they own and occupy as their primary homestead. This exemption is considerably narrower than a general exemption for all 100% disabled Veterans.
Family Tuition Assistance
Education Benefits for Missouri Veterans & Families
- Qualifying spouses and children can receive substantial college assistance. Missouri's Wartime Veteran's Survivors Grant Program assists eligible spouses and children of qualifying post-9/11 combat Veterans whose deaths or injuries resulted from combat action or qualifying combat-related illness or accidents. It can also cover families of Veterans who became 80% disabled from injuries or accidents sustained in combat action.
- The grant can help with tuition, housing, and books. For eligible students at participating Missouri public colleges and universities, the maximum semester award includes qualifying tuition plus up to $2,000 for room and board and up to $500 for books. Children generally must be under 25, and the program is limited by statute to 25 recipients per year, with awards dependent on available funding.
Home Financing
Home Financing Benefits for Missouri Veterans
- Veterans don't have to be first-time buyers to use Missouri's First Place Program. The Missouri Housing Development Commission's First Place Program offers below-market mortgage financing to first-time homebuyers and qualified Veterans purchasing eligible properties anywhere in Missouri.
- Need help getting through closing? There's an option for that, too. First Place offers qualifying borrowers the option of cash assistance toward down payment and closing costs, helping reduce one of the biggest upfront barriers to homeownership. Loans are originated through participating certified lenders and remain subject to program income, purchase-price, property, and financing requirements.