Veteran Real Estate Sold

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This topic contains 1 reply, has 1 voice, and was last updated by  Ross D 5 years, 5 months ago.

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  • #1045

    Shirley Hammock

    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

    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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