The Hanover County Board of Supervisors has enhanced the tax relief for the elderly and disabled for the second time in less than two months.
On May 24, the Board voted to increase the amount of net worth a participant in the program can have from $300,000 to $400,000. Net worth for the program does not include the value of one’s home and up to 10 acres of land surrounding it. Nor does it include the value of personal items that are not subject to property taxes.
The Board also set the maximum amount of tax relief that is available under the program at $3,500.
These changes are effective for property tax bills due in October 2023.
The Commissioner of the Revenue will hold a secondary application process for residents who want their properties to be considered for the second half billing based on the mid-year change to the program.
For more information call the Commissioner of Revenue’s office at 804-365-6128 or email [email protected].