AGENDA DATE: 11/20/2024
TITLE:
Title
Schedule a Public Hearing to Consider Adoption of an Ordinance to Modify Real Estate Tax Relief for Elderly and Disabled Persons
BODY
SUBJECT/PROPOSAL/REQUEST: Schedule a Public Hearing to Consider 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, Herrick, Bessette, Sumner, Usher, Bowman, Matheny, Wilson, Lane
PRESENTER (S): Jennifer Matheny
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: In the FY 24 and FY 25 budget development processes, the Board of Supervisors 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. For tax year 2024, the Board voted to modify the qualifying criteria to increase the income and net worth limits. The current eligibility criteria for the program are as follows:
- Applicant is at least 65 or applicant has been medically determined to be totally and permanently disabled as of December 31st of the prior year;
- Applicant is the Title Holder of the property as of January 1 of the current year;
- Applicant's Combined Total Income, for last year, from all sources does not exceed $88,800;
- Applicant's Total Net Worth, including spouse, co-owner(s), and their spouse(s) as of December 31st of the prior year, does not exceed $305,000;
- Applicant's Real Estate Property seeking tax relief may not be used in a business.
Staff is requesting the Board consider modifying the program criteria for tax year 2025 prior to the applications and program information being distributed in January. This will simplify the application process and avoid changes later in the tax year after approvals have been issued. Based on the application cycle for existing participants in ...
Click here for full text