Q: How do I calculate the refund of taxes that my veteran husband gets for the last 3 yrs of property taxes?
In 2018, Honorably discharged marine 10% disabled
A:
Here are the key points for calculating a property tax refund for a disabled veteran in Florida over the last 3 years:
- Veterans with a service-connected disability of 10% or more are eligible for a $5,000 property tax exemption in Florida. This reduces the assessed value of their home for property tax purposes by $5,000.
- To calculate the refund amount, you'll need to know the millage rate (amount of tax per $1,000 of assessed value) for your county for each of the past 3 years. Millage rates vary by county and change each year.
- For each year, multiply the millage rate by 5 (since the exemption is $5,000) and divide by 1000. This gives you the tax savings for that year.
- Add up the tax savings for each of the 3 years to get the total refund amount your husband is eligible for.
For example, let's say the millage rates in your county were:
2021: 20.0000
2020: 19.5000
2019: 19.0000
The calculations would be:
2021: (20.0000 x 5) / 1000 = $100
2020: (19.5000 x 5) / 1000 = $97.50
2019: (19.0000 x 5) / 1000 = $95
Total Refund: $100 + $97.50 + $95 = $292.50
To claim the refund, you'll need to file amended property tax returns for each year. Contact your county property appraiser's office for the necessary forms and filing instructions. You'll need to provide documentation of your husband's veteran status and disability rating.
The process can be a bit complicated, so consider consulting with a tax professional familiar with veteran exemptions to ensure you calculate the refund correctly and provide all required paperwork. Your county Veterans Service Office may also be able to provide guidance.
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