Exempt Property

Status:Passed

Question: Shall Section 6 of Article X of the Constitution of Virginia be amended to authorize legislation that will permit localities to establish their own income or financial worth limitations for purposes of granting property tax relief for homeowners not less than 65 years of age or permanently and totally disabled?

EXPLANATION

Present Law:
Under the Constitution, the General Assembly may give localities the power to grant full or partial exemptions from real estate taxes to persons 65 years of age or older or for persons permanently and totally disabled. The exemption applies to owner-occupied property used as the sole dwelling of such persons. The exemption is currently available only to such persons who bear "an extraordinary tax burden" in relation to their income and financial worth.

Proposed Amendment:
The proposed amendment (i) removes the requirement that tax exemptions are available only to such persons who bear "an extraordinary tax burden," and (ii) gives the General Assembly authority to permit localities to determine their own income or financial worth limitations for tax exemptions for persons 65 years of age or older or for persons permanently and totally disabled.

 

Positions

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Political Pulse

Do you support or oppose Exempt Property?

Yes No
Support Exempt Property
 
20%
Oppose Exempt Property
 
80%
 
 

Comments

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Virginia (change)

 
Virginia was founded in 1607 in Jamestown. Since then, Virginia has grown and prospered into a thriving state rich with diversity from culture to climate.
 
Offices & Officials

Governor: Robert F. McDonnell
Lieutenant Governor: Bill Bolling
Attorney General: Ken Cuccinelli
Secretary of State: Janet Polarek