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Property tax considerations are another crucial aspect addressed. In Arkansas, where he resides, residents benefit from a homesteaders credit, which assesses properties at a fraction of their market value, often resulting in minimal property taxes—sometimes as low as $120 annually. As a disabled veteran, he pays no property tax at all, a significant benefit for eligible veterans.
He emphasizes that residence on the property is a condition for most tax credits and that buying a property with the intention to renovate and rent out typically disqualifies the homesteaders credit. Therefore, the intended use influences tax liabilities.