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2001 SESSION
HB 1987 Exemption or deferral of tax on prop. for certain elderly/handicapped.
Introduced by: Richard H. Black | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Real property tax; exemption or deferral of taxes on property for certain elderly and handicapped; income limits. Raises the income limit from $52,000 to $62,000 and the financial worth amount from $195,000 to $240,000 for purposes of the exemption or deferral of taxes on real property located in the Eighth planning district. The statewide income limit is raised from $30,000 to $50,000. Localities are authorized to exempt or defer the real estate taxes of the elderly under such applicable limits. This bill is identical to SB 939.
SUMMARY AS PASSED HOUSE:
Real property tax; exemption or deferral of taxes on property for certain elderly and handicapped; income limits. Raises the income limit from $52,000 to $60,000 for purposes of the exemption or deferral of taxes on property in Loudoun County and the Town of Leesburg.
SUMMARY AS INTRODUCED:
Real property tax; exemption or deferral of taxes on property for certain elderly and handicapped; income limits. Raises the income limit from $52,000 to $60,000 for purposes of the exemption or deferral of taxes on property in any county, city or town having a 1980 population of more than 500,000; any county, city or town adjacent thereto; the Cities of Manassas, Manassas Park, Chesapeake, Portsmouth, Suffolk, and Virginia Beach; the Counties of Chesterfield, Fauquier, Henrico, and Stafford; and the Towns of Leesburg and Lovettsville.