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Illinois Benefits for 100% Disabled Veterans

  Рет қаралды 3,121

VA Disability Group PLLC

VA Disability Group PLLC

Күн бұрын

VA Disability Group's Shauna and Courtney review the entire outline of all the Illinois benefits that are available to veteran's that have reached the 100% status.
Website: www.vadisabilitygroup.com
vadisabilitygroup.com/illinoi...
Video Content Breakdown:
00:00 Welcome
1:48 Veterans Homes
2:21 Veterans Cemeteries
2:41 Illinois Veteran Financial Benefits
2:47 Income Tax
2:57 Bonus Payments
3:55 State Tax Exemption
4:12 Specially Adapted Housing Tax Exemption
4:46 Mobile Home Tax Exemption
4:55 Returning Veterans’ Homestead Exemption
5:11 Disabled Veterans’ Standard Homestead Exemption
6:00 Illinois Veteran Employment Benefits
6:12 Veterans Employment Preference
7:14 Veteran Entrepreneurship
7:57 Veteran Education Benefits
8:35 Educational Opportunities for Children Ages 10-18
9:04 MIA/POW Scholarships
9:56 Illinois Veterans Grant
10:26 Illinois National Guard Grant
10:45 Children of Veterans Scholarship
11:18 Academic Credit for Military Training
11:43 Veterans Recreation Benefits
12:04 Hunting and Fishing Licenses
12:28 State Fair
12:41 Outro

Пікірлер: 6
@samuelangel8898
@samuelangel8898 5 ай бұрын
Just want to say you guys doing an amazing job with your videos. Just wondering if there is going to be a updated video for Illinois anytime soon? Thank you very much.
@VADisabilityGroup
@VADisabilityGroup 5 ай бұрын
We are still trying to finish the video series for each state. It’s a decent amount of effort & time. Once we are done with each state, we will likely do short state benefit update videos. Thx for the comment!
@elisaibarra3659
@elisaibarra3659 8 ай бұрын
Thank you for this information!
@VADisabilityGroup
@VADisabilityGroup 8 ай бұрын
Glad it was helpful!
@phasar1
@phasar1 7 ай бұрын
I was told that in cook county you don’t get a total exemption from property tax if you’re 100% disability rated. I was told that they will only tax you at a rate that would exist if your property value was $250.000. Could you clarify that?
@VADisabilityGroup
@VADisabilityGroup 7 ай бұрын
What you were told appears to be correct. Remember this is a state benefit and not a county benefit. If you have a house worth 800K, you will only be exempted for for up to 250K of the Equalized Assessed Value (EAV). As a general rule of thumb, the EAV is usually about 1/2 of the actual property value. So in practice, the 250K limit is likely a total exemption of a property that would appraise/sell for 500K. In pertinent part, the Illinois tax code appears to limit the exemption up to 250K. Consider the following insight the from the state's statute: Standard Homestead Exemption for Veterans with Disabilities Beginning in tax year 2007 and after, this exemption is an annual reduction in equalized assessed value on the primary residence occupied by a qualified veteran with a disability. This veteran with a disability must own or lease a single family residence and be liable for payment of property taxes. The property's total EAV must be less than $250,000 after subtracting any portion used for commercial purposes. The amount of the exemption depends on the percentage of the service-connected disability as certified by the United States Department of Veterans' Affairs. A qualified veteran with a service-connected disability of at least 30% but less than 50% will receive a $2,500 reduction in EAV; if the veteran has a service-connected disability of 50% but less than 70%, the annual exemption is $5,000; and if the veteran has a service-connected disability of 70% or more, the residential property is exempt from taxation. tax.illinois.gov/localgovernments/property/taxrelief.html#:~:text=A%20qualified%20veteran%20with%20a%20service%2Dconnected%20disability%20of%20at,of%2070%25%20or%20more%2C%20the www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=003502000K15-169 All the best!
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