COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Real Estate Tax Exemption for Certain Elderly and Disabled Persons

 

SUBJECT/PROPOSAL/REQUEST:

Public hearing to consider proposed ordinance to amend County Code Chapter 15, Taxation, Article VII, Real Estate Exemptions for Certain Elderly and Disabled Persons.

 

STAFF CONTACT(S):

Messrs. Tucker, Davis, Herrick, Wiggans, Correa; Ms. White

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

December 7, 2005

 

ACTION:     X                           INFORMATION:   

 

 

CONSENT AGENDA:

  ACTION:                                INFORMATION:   

 

 

ATTACHMENTS:     Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

The Real Estate Tax Exemption for Certain Elderly and Disabled Persons program provides a real estate tax exemption for eligible elderly or disabled persons who are subject to a real estate tax burden that is extraordinary in relation to their income and financial worth.  At the Board of Supervisors meeting on November 2, 2005, information was presented concerning increasing the acreage excluded from the calculation of net worth for purposes of the real estate tax exemption program from 1.0 acres to 5.0 acres.  A copy of the November 2, 2005 Executive Summary is attached (Attachment B).

 

 

STRATEGIC PLAN:

4.2: Fund County services in a fair, efficient manner and provide needed public facilities and infrastructure.

 

 

DISCUSSION:

The attached ordinance changes the acreage excluded from the calculation of net worth for purposes of the real estate tax exemption program from 1.0 acres to 5.0 acres.

 

 

BUDGET IMPACT:

As noted in the November 2, 2005 Executive Summary, the annual cost to Albemarle County of increasing the exempt acreage from 1.0 acres to 5.0 acres for existing program participants is estimated at $8,000.

 

 

RECOMMENDATIONS:

After the public hearing, staff recommends the adoption of the attached ordinance to increase the acreage excluded from the calculation of net worth from 1.0 acres to 5.0 acres.

 

 

ATTACHMENTS

A Proposed Ordinance

B Executive Summary from November 2, 2005

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