City Seeks Input on Virginia Beach’s Elderly and Disabled Real Estate Tax Relief Program

Provide Your Feedback on www.vbgov.com/virtualtownhall

Friday, December 12, 2014

VIRGINIA BEACH, Va. – December 12, 2014 - The City of Virginia Beach currently offers qualified property owners the ability to receive one of three forms of relief (Exemption, Freeze or Deferral), towards their real estate tax bill. To qualify, applicants must be no less than sixty five (65) years of age or totally and permanently disabled. Income cannot exceed $68,293 and an applicant’s total assets cannot exceed $350,000 excluding the value of the home.

Since 2004, the enrollment and cost of this program has increased from $3.5 million to more than $12 million today. As the senior population in the city grows, the number of participants in the program is forecasted to continue to grow. A taskforce, the Tax Relief for the Elderly and Disabled Taskforce, has been formed to review the program and recommend possible changes to City Council.  

To ensure City Council receives the best possible recommendations, the Tax Relief for the Elderly and Disabled Taskforce is requesting input from Virginia Beach citizens through Virtual Town Hall.  A short survey has been posted whereby citizens are asked to provide feedback on their knowledge of the Elderly and Disabled Real Estate Tax Relief Program and what they think the parameters should be. The topic will be available on Virtual Town Hall for public input until 5 p.m. on January 9. 2015. 

To view the Elderly and Disabled Real Estate Tax Relief Program click here 

For more information contact the Commissioner of Revenue’s Office at 385-4385 or e-mail REQ@vbgov.com.

 

                                                                                                #  #  #

​​​​​​​​​​​​​​​​