The veteran exemption entitles you to $2,600 of assessed valuation deduction for the 2016/17 fiscal year. Conversion into actual cash dollar savings varies depending on the tax rates; currently, it is approximately $84 per year on the real estate or personal property taxes or approximately $104 on the basic governmental service tax portion of your motor vehicle registration. Veterans may pay the exemption amount and elect to donate that portion of their payment to the construction and maintenance of a veteran’s retirement home.
Disabled Veteran Exemption
The Disabled Veteran Exemption amount will depend upon the percentage of permanent service-connected disability. The 2016/17 fiscal year amounts will be as follows:
60% - 79% disabled - $13,000 assessed value (approximately $416 property or up to $520 vehicle per fiscal year)
80% - 99% disabled - $19,500 assessed value (approximately $624 property or up to $780 vehicle per fiscal year)
100% disabled - $26,000 assessed value (approximately $832 property or up to $1,040 vehicle per fiscal year)
In order to apply for this exemption, bring your Nevada driver’s license or Nevada ID card to the assessor’s office along with your separation papers from the United States Armed Forces showing an honorable discharge, entry and discharge dates, and a minimum of 90 consecutive days active duty.
For disabled veterans, please provide separation papers from the United States Armed Forces showing an honorable discharge, entry and discharge dates, and Veteran’s Administration documentation showing a minimum of 60% permanent service-connected disability.
If you have served on active duty in connection with carrying out the authorization granted to the President of the United States in Public Law 102-1, and who received, upon severance from service, an honorable discharge or certificate of satisfactory service from the Armed Forces of the United States, or who, having so served, is still serving in the Armed Forces of the United States, may receive an exemption on their valuation. The amount of assessed valuation that is exempt from taxation is pursuant to NRS 361.090, subsection 1.