When it comes to Alaska real estate for veterans, the state is one of two that is quite helpful to those who served that want to buy land. Texas is the other. There can be a lot of savings for a veteran to reap. But what do they need to know in order to secure the land and what benefits are there? Fortunately, it’s fairly simple.
Read on to learn more.
Veteran Land Discount Program
Veterans can get land at a 25% discount. They need to have lived in Alaska for a year and also be at least 18 years old. Proof of their veteran status is required, which is usually a form showing their (honorable) discharge.
The thing with this is that the veteran almost always, with nearly no exceptions, must use this land to build a residential home. The discount will not be applied if they want to build something commercial or industrial.
This can only be used once, although there are times when two veterans can apply and the second one may get the discount.
Veteran Land Sale Preference
Oftentimes, the state will put land up for sale via auction. With this program, veterans can get in first, though it has to be five acres or less. This way, they can possibly get land before the general public.
The caveat here is that a veteran cannot combine the Land Discount Program with this. It’s one or the other. That is something to keep in mind.
Property Tax Exemption
This is for veterans who have been disabled while serving. They can have a tax exemption for a property that costs $150,000 or less. The veteran has to be at least 50% disabled to get this.
A spouse can get this if the veteran died while still in the service. The spouse has to be at least 60 years old to qualify for this.
It can be tough to find a place to live post-retirement, but these options can be a hig help. There are also homes that can house veterans, but those are more like assisted living type places. It depends on how much autonomy they want.
Alaska is a beautiful place with a lot of woods and other beautiful scenery. It’s a wonderful place for a veteran to live out their lives. The state wants to make sure that they can do that.