News Flash Home
The original item was published from 3/22/2023 3:26:26 PM to 3/22/2023 3:26:39 PM.

News Flash

Hanover County Press Releases

Posted on: March 22, 2023

[ARCHIVED] Hanover proposes to increase tax relief for elderly or disabled residents

Among the items up for consideration by the Hanover County Board of Supervisors at its budget public hearing on April 5th is a proposed increase in tax relief for eligible elderly and disabled residents.

Hanover County has offered this program for many years. The estimated 1,240 residences that currently participate realize an average tax relief of about $2,000, with about 44% paying no County real estate tax at all.

Given the current economic conditions, the Board of Supervisors will consider  providing additional relief for eligible residents. The proposed enhancements are designed to not only provide more relief to participants who are already eligible, but to also expand the number of residents eligible for the program by increasing the income thresholds in each relief category by $5,000.

Provided below is a comparison of the current program with the proposed recommended enhancements:

Net Household Worth:  Up to $300,000

 

Current Income

Current Relief

Amended Income

Proposed Relief

$ 0 - $25,000

100%

$ 0 - $30,000

100%

$ 25,001 - $35,000

80%

$ 30,001 - $40,000

80%

$ 35,001 - $45,000

55%

$ 40,001 - $50,000

55%

$ 45,001 - $55,000

30%

$ 50,001 - $60,000

30%

 

It is estimated that an additional 180 residents will quality for 100% relief under these changes. An additional 260 homeowners would qualify for 80% relief.

If approved by the Board, the ordinance will be effective retroactively to January 1st, 2023.

Applicants must be 65 years or older or permanently disabled and must own or partially own the property and have lived in it on December 31. If the applicant is in a hospital or extended care facility, he or she may still qualify as long as the house is not rented or leased.

The Board’s April 5th public hearing on the County Administrator’s proposed budget for Fiscal Year 2024 will begin at 6 p.m. and will be held in the Board of Supervisors meeting room at Hanover Courthouse.

Facebook Twitter Email