Stafford County will hold a public hearing to consider changing the county code regarding the tax relief program for the elderly and the disabled.
The county will discuss whether to allow tax exemptions for the elderly and disabled to reflect the rise in the cost of living and the impact of inflation that has occurred in the county since the program was last revised over a decade ago. Virginia law allows Stafford County to exempt or defer taxes for the elderly and disabled.
Should the county decide to make the changes for an exemption, properties owned by someone 65 years of age or older who are considered permanently and completely disabled will be exempt from county property taxes of $ 3,000 per year.
A key condition of the new change is that the total assets of the owner and the owner’s spouse cannot exceed $ 400,000 per year. This net value would not include the value of the property or the homes built on the property. The property itself could not exceed 20 acres.
The changes to the program were first brought to the attention of the Executive Board in 2020, but were suspended due to the coronavirus pandemic. The changes to the program are said to have been developed by Treasury Commissioner Scott Mayausky and George Washington District Manager Tom Coen.
If the changes are passed, a total of $ 45,000 per year could be saved for beneficiaries of the program.
The public hearing will be held Tuesday, May 4th at 7:00 p.m. at the Stafford County’s Board of Directors meeting. The Board of Directors will meet at 1300 Courthouse Road in the county government center.
Share this story