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Tags: retirement | California | veterans

Veterans Guide to Retiring in California

By    |   Tuesday, 02 June 2015 12:57 PM EDT

When choosing a home for retirement, there are plenty of options in the United Statas. Whether it is in warm areas like Arizona, the mountains of Arkansas, or in coastal towns like Florida and California, there are plenty of benefits and drawbacks no matter where you choose to live. For veterans of the U.S. Armed Forces, there are many other questions to answer as well. The facts about taxes, housing programs, discounts and benefits are at the forefront of the veteran's mind when making these choices. Here is what veterans need to know before selecting retirement in California as their next destination.

Free Retirement Calculator: When Can You Retire? — Click Here to Find Out

  1. Housing Programs - There are eight current veterans' homes in California, and they are live-in, residential care facilities. They also offer dental, medical, pharmacy, rehabilitation facilities, and a number of social activities. These homes may be applied for by veterans age 55 or older who were honorably discharged. For retired veterans who want to own their own house, there are direct loans from the state with competitive rates and quick processing. They also include earthquake coverage.
  2. Veterans' Exemption - The Veterans' Exemption is for property, but cannot exceed $4,000 for qualified veterans. This is a tax break for both current military personnel as well as veterans who were honorably discharged. National Guard members who were called into active service are also eligible. To apply for this tax break, the veteran must apply for it every year with the assessor of the county where their property is located.
  3. How Soon Can You Retire? Free Test Shows You When — Click Here

  4. Property Tax - Disabled veterans who retire in California can seek a property tax exemption in the state. It all depends on the veteran's income, but if a veteran is 100 percent disabled, they can qualify for an exemption of between $124,932 and $187,399 on the principal residence. This is actually a very good deal, as it offers more tax exemption than both the Homeowners' Exemption and Veterans' Exemption. To apply for the exemption, they should contact their county assessor.
  5. Other Benefits - Other benefits for veterans who are choosing retirement in California include all motor vehicle registration fees waived, disabled veteran license plates fees waived, discounts on hunting and fishing licenses, and free burial services for all veterans in California. Disabled veterans can also receive education benefits, including the waiver of tuition and fees at a number of colleges for the veterans,  their spouses and their children.
An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

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When choosing a home for retirement, there are plenty of options in the United Statas.
retirement, California, veterans
Tuesday, 02 June 2015 12:57 PM
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