INDIANA – You might be eligible for a property tax deduction if you own a home in the state of Indiana. There are three types:
Property Tax Deduction for Veterans and Spouses of KIA: $14,000 deduction for veterans that served during peacetime or the surviving spouse of a service member that was killed in action or died during active duty. The veteran must be totally disabled or must be 62 years old with a 10% service-connected disability rating. There is an assessed value limit of $200,000.
Property Tax Deduction for Wartime Veterans: $24,960 deduction for wartime veterans with at least a 10% service-connected disability rating. There is no assessed value limit for this benefit.
Property Tax Combination for Certain Disabled Wartime Veterans: A veteran who served during a period of war and is at least 62 years old with a 10% service-connected disability rating OR has a permanent and total service-connected disability rating at any age AND whose home’s assessed value is $200,000 or less, can receive both property tax deductions for a total of $38,960.
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