Nov 1, 2022
Veterans have dedicated part of their lives toward serving America through military service. Some spend many years in the military and make it their career. When they're no longer actively serving, former military members have a series of decisions to make that should allow them to live as comfortably as possible.
For example, some might look into debt consolidation for veterans if that's what's best for their finances. Others may want to find a part of the country where they can stretch their military pension as far as it can go.
In this article, we'll talk about some of the states that provide the best benefits for veterans. Any former military personnel would be well to consider these options.
1. Alaska
Because of the cold winters, Alaska is not a state where everyone will want to put down roots. However, there are some key veteran benefits it offers that are hard to beat.
For instance, vets with a 50% disability rating or higher qualify for a property tax exemption. Up to the first $150,000 of their primary residence's assessed value is exempt from property taxes. That exemption gets transferred to a surviving spouse if the veteran dies due to a service-related condition.
Alaska veterans and their spouses can qualify for many educational benefits if they attend a state school. The state is also one of nine with no income tax. That should appeal to any vet who gets into another profession after they've concluded their service.
2. Florida
Florida is another top choice for veterans. It's one of seventeen states that offer a full property tax exemption if you're a vet with a 100% P&T rating from the VA. If you have a VA rating of 10% or more, you can still get a $5,000 tax exemption.
Like Alaska, Florida is a state with no income tax, which vets who have taken on a second career will enjoy. The state gives all vets with a 100% Permanent and Total rating from the VA a free five-year all-purpose fishing and hunting license. Finally, you can get a free driver's license from the state if you have a 100% P&T rating, along with a free set of special plates proclaiming your veteran status.
3. Texas
Texas is another strong option for vets. If you have a VA rating between 10% and 90%, you get some generous property tax reductions. It's another state with no income tax. You can also take advantage of the Hazelwood Act. It allows vets, their spouses, and dependent children to get up to 150 hours of college classes, tuition-free, at state schools.
Perhaps what really sets Texas apart as a top choice for veterans, though, is that the state exempts VA disability payments and military retirement pay from any taxation. That can make a difference of thousands of dollars for some vets.
Which One of These States Will You Choose?
Veterans who have concluded their military service would do well to live in Florida, Texas, or Alaska. Florida has property tax exemptions for vets and no income tax. The free driver's license and special plates for your vehicle are nice perks, and the free five-year fishing and hunting license for vets with a 100% P&T rating is icing on the cake.
Texas is a great choice because of the property tax reductions and the Hazelwood Act that grants educational benefits to vets, their spouses, and their children. There's no income tax, and the state exempting military retirement pay and VA disability payments from taxation is certainly welcome.
Alaska allows a property tax exemption for some veterans, and you can also get educational benefits if you'd like to attend a state school. There's also no income tax if you feel inclined to pursue a career after your time in the service.
Any of these states will do well for veterans. You just have to choose which one best fits your lifestyle.
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