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Tax relief
for elderly?
By SHARON KILPATRICK
Rappahannock News Staff Writer
Should the elderly with limited incomes get relief from real estate taxes?
The Board of Supervisors has decided to consider such a proposal and wants to hear from citizens at a public hearing at its meeting in March.
At the request of Hampton District Supervisor Michael Massie and Wakefield District Supervisor Hubert Gilkey, County Administrator John McCarthy has informed the supervisors that they could adopt such a law.
Those who qualify could be exempt from a percentage of their real estate taxes or from the entire tax, depending on what policy the board adopted. As an alternative to a blanket exemption, the supervisors could defer taxes until the property was sold or the owner died, Commonwealth’s Attorney Peter Luke told the supervisors at their February meeting.
In order to qualify the owner of the property would have to be 65 or older or permanently disabled. The combined income from all sources or the owner or owners of the home and any relatives who live in the home must not exceed $22,000, but a relative who was not the owner or the owner’s spouse could exclude up to $6,500 from the total. In addition, if the supervisors wished, they could exclude an additional $7,500 of income from a permanently disabled owner.
Another requirement to qualify has to do with the net worth of the owners. The house and up to one acre of land could be excluded. The supervisors could, if they wished also exclude household furnishings. With those exceptions, to quality an owner could not have a net worth of more than $75,000.
The program, if adopted, would be administered by the office of the Commissioner of Revenue Beverly Atkins. Homeowners wishing to qualify would have to file forms supporting their eligibility each year.
Mr. McCarthy told the supervisors he had not yet attempted to find out how much such a program might cost the county in lost tax revenues. He said that he and Ms. Atkins could come up with a “ball-park figure” if the supervisors wished him to proceed.
However, the board decided to determine how much need there is for such a program before asking Mr. McCarthy to try to determine the cost.
The purpose of the public hearing is to find out how much interest, if any, there is in the community for such a program. The hearing will be held during the board’s evening session for public hearings on Monday, March 6, beginning at 7 p.m.
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