Veteran Real Estate Sold

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  • #1045
    Shirley Hammock
    Guest

    A veteran owns the property on January 1 and sells the property in April of the same year. Does the property revert back to taxable in full on date of recordation or does it keep the veteran exemption until January 1 of the next year?

    #1046
    Ross D
    Guest

    Disabled vet property is pro-rateable under 58.1-3360. So the sold property returns to full tax on the date of transfer. If the vet buys a new house the new place becomes tax exempt on date of purchase, provided the vet lives there.

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