New Benefits For Veterans With The GI Forever Bill
If you are a veteran, there have been some changes. The House of Representatives just passed a new GI Forever bill and what that means is specific benefits will last forever. For instance, your educational benefit can be used forever, you can go to college and use your benefits without fear of a time limit. This would be post 9/11 anyone joining the service before that date would not be able to take advantage of the new bill.
There are significant federal benefits for veterans, but did you know that the state of Colorado also has excellent benefits for veterans.
There are five state veterans' homes located in Aurora, Florence, Homelake, Rifle, and Walsenburg. To be admitted you would need to be discharged honorably, be a veteran or spouse, widow or Gold Star parent.
Property Tax Exemption You can get a 50% exemption of the first $200,000 of a home's value if you are 100% disabled Income Tax On Retired Military Pay. If you are retired between the ages 55 - 64 you can exclude up to $20,000 retired military pay from your taxable income, those 65 and over can exclude up to $24,000.
There are also points given to Veterans and their spouses for state jobs and federal jobs.