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Tags: Retirement | retirement | Ohio | veterans

Veterans Guide to Retiring in Ohio

By    |   Wednesday, 10 June 2015 01:12 AM

For veterans of the military, spending retirement in Ohio offers several financial perks and incentives. You'll pay less on basic living costs such as taxes, and on some recreational and leisure pursuits. If you want to make the most of your income while maintaining a high quality of life, retirement in Ohio offers several attractive features.

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Maximize your new-found free time by taking advantage of veterans' discounts for recreational, entertainment, and leisure activities. According to the Ohio Department of Natural Resources, at Ohio's state parks veterans receive a 10 percent discount on any campsite, getaway rental unit, cottage, or lodge room. Veterans who were prisoners of war or who have a permanent and total disability qualify for free camping.

In addition to receiving standard military benefits, in Ohio you may qualify for a bonus based on any active duty you served. According to the Mid-Atlantic Regional Group Blinded Veterans Association, veterans receive a $100 bonus for each month of active duty, up to $1,000. The program is open to veterans who served in Afghanistan beginning October 7, 2001, and Iraq beginning March 19, 2003.

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You'll also save money on taxes in Ohio thanks to your status as a veteran. According to Military.com, you don't have to pay taxes on your military retirement benefits, and if you have a total disability you qualify for a homestead exemption of up to a $25,000 reduction on the assessed value of your property, significantly reducing your property taxes.

If you need long-term care or assisted-living facilities, the state offers housing through its Ohio Veterans Homes program. There are two nursing homes and a domiciliary, which offers independent living with access to medical care if needed. At all facilities, doctor visits and medications are included in the monthly fee. To qualify, you must have left the military with an honorable discharge and have lived in Ohio for at least a year at any time during your life. There are no age restrictions, making it an option for retired military who might not be eligible for senior facilities.

An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

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For veterans of the military, spending retirement in Ohio offers several financial perks and incentives. You'll pay less on basic living costs such as taxes, and on some recreational and leisure pursuits.
retirement, Ohio, veterans
383
2015-12-10
Wednesday, 10 June 2015 01:12 AM
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