AGENDA DATE: 4/17/2024
TITLE:
Title
Public Hearing to Consider the Adoption of an Ordinance to Modify Real Estate Tax Relief for Elderly and Disabled Persons
BODY
SUBJECT/PROPOSAL/REQUEST: Public hearing to consider the adoption of an Ordinance to amend County Code Chapter 15, Taxation, Article 7, Real Property Tax, by modifying the criteria for real estate tax relief for elderly and disabled persons.
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Rosenberg, Bessette, Sumner, Bowman, Matheny, Wilson
PRESENTER (S): Andy Bowman
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: During its Fall 2023 five-year financial planning process, the Board indicated support for broadening the eligibility for real property tax relief through the current program for Real Estate Tax Relief for Elderly and Disabled Persons. The Board directed staff to evaluate program adjustments during the Fiscal Year 2025 budget process. Staff evaluated increasing the income limit to align to the current value for the US Department of Housing & Urban Development Area Median Income (AMI) Limits, using the value for 80% AMI for a family of four in Albemarle County, as well as the net combined financial worth limit. Under Virginia Code ? 58.1-3210, the County has authority to modify the qualifying criteria.
STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION: Albemarle County Code Chapter 15, Article 7, Division 2, Real Property Tax Exemption for Certain Elderly and Disabled Persons, describes the County's real property tax relief program for elderly and disabled persons. Based on direction from the Board of Supervisor's March 13, 2024 budget work session, the proposed ordinance (Attachment A) would modify the current program criteria with the following:
?? Increase the net in...
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