SB 816

Abstract

Real property tax; exemption for elderly and disabled individuals. Revises various provisions of the local real property tax exemption and deferral program for elderly and disabled individuals. The bill allows a locality to require that an individual pay all delinquent taxes or other amounts owed to the locality for the property that were incurred prior to becoming eligible for an exemption or deferral or enter into an installment agreement with the locality for the payment of all such delinquent amounts in installments over a period of up to 72 months. Additionally, the bill requires notice of the terms and conditions of the exemption and deferral program to be included in any notice of change in assessment and posted on the locality's website. Finally, the bill allows a locality to provide a prorated exemption or deferral for the portion of the taxable year during which the taxpayer would have qualified for such exemption or deferral but had not yet filed an application.

A BILL to amend and reenact §§ 58.1-3212, 58.1-3213.1, and 58.1-3215 of the Code of Virginia, relating to real property tax; exemption for elderly and disabled individuals.