Thursday, January 9, 2014

Journal-Gazette Reports BMV Tax Cut Touted for Disabled Vets

From the Fort Wayne Journal-Gazette:

Veterans with service-related disabilities who do not own property will qualify this year for a tax credit on vehicle excise tax because of a new law passed by Indiana lawmakers.

Previously, veterans with disabilities could apply for a tax deduction only if they owned property.

To receive the credit, veterans must first obtain an affidavit from their county auditor stating that they do not own property to which a property tax deduction can be applied.

Veterans can then present the affidavit to the Bureau of Motor Vehicles and receive the tax credit when renewing their license plates, Allen County Auditor Tera Klutz said.

The excise tax credit is equal to the lesser of the excise tax due for the specific vehicle or $70 and can be applied to two vehicles owned by the veteran, Klutz said.

“Many of our county veterans do not own property, and I am glad that we can offer them a tax credit on their vehicles.” Klutz said. “The new excise tax credit is also available to the surviving spouse of a disabled veteran.”