The Alaska Veterans Land Discount Program
by Laura Mueller
Veterans who are looking to buy land in Alaska have a big advantage thanks to the Alaska Veterans Land Discount Program.
Alaska is one of only two states that offer land purchasing benefits to veterans, the other being Texas and their Veteran Land Board program. Unlike Texas, however, which offers benefits through financing support and fixed low-rate loans, the Alaska Veterans Land Discount Program provides qualifying veterans with 25% off the purchase price of state residential and recreational land. It’s a great opportunity for veterans who are looking to invest in Alaska’s ample amount of state land, though there are caveats.
Here are four things veterans who are interested in Alaska’s land discount program should be aware of.
1. To qualify, veterans must live in Alaska for at least one year preceding the date of sale
Alaska’s Veterans Land Discount Program is great for members of the military, but restricts purchases to only those veterans who have lived in the state for at least one year prior to the date of sale. Veterans in other states who are looking for cheap land buying opportunities will have to look elsewhere, unless they plan to put down roots in the state before seeking to take advantage of the program. See a full list of eligibility requirements here.
2. The land discount can be used just once in a veteran’s lifetime
If a veteran wants to invest in land beyond one property, he or she will not be eligible to receive the 25% discount on any subsequent land purchases. That’s because the Alaska Veterans Land Discount Program restricts usage to just one property over the course of a veteran’s lifetime. Any additional purchases will be at full price, even if the land for sale is currently owned by the state.
3. The program cannot be used in conjunction with Alaska’s Veteran Land Sale Preference
The Veteran Land Sale Preference is another initiative offered by Alaska to help veterans buy land. Under the program, veterans get first dibs on the purchase of any unoccupied residential land by auction (provided it’s five acres or less), with the ability to make a purchase before the land is offered to the general public. However, veterans who purchase land through the Land Sale Preference program cannot also claim the 25% discount offered by the Land Discount Program.
4. The Land Discount Program cannot be used to purchase agricultural, commercial, or industrial land
One major restriction of the Land Discount Program is that veterans cannot claim the 25% discount on land that will be used for anything but residential or recreational purposes. Under this rule, veterans who are looking to purchase farm land or land that is used for commercial or industrial purposes are ineligible to benefit from the discount.
Qualified veterans who are interested in claiming the 25% land discount under the Alaska Land Discount Program are encouraged to call the Public Information Centers in either Anchorage (907-269-8400) or Fairbanks (907-451-2705) for more information.
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