Tax Savings Opportunity for Charlottesville City Seniors This February

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In Virginia, those who are over age 65 or disabled may qualify for relief from Virginia real estate taxes. The program is called “Tax Relief for the Elderly and Disabled,” and each governing body in the state of Virginia has been permitted to establish their own rules and eligibility requirements.

In Virginia, there are 95 counties and 39 independent cities each with their own requirements. We took the time to compile all those requirements into one article called “Virginia Real Estate Tax Relief For the Elderly and Disabled By City and County.”

One locality of note though is the City of Charlottesville.

While most localities limit benefactors of this program by their financial net worth and their total combined income, Charlottesville City has no net worth limitation. In the City of Charlottesville, seniors over age 65 may receive relief on their real estate taxes limited by AGI but regardless of net worth.

In this way, if your house resides in the City of Charlottesville (not one of the nearby counties such as Albemarle County), you are over age 65, and you have a total combined income of less than $60,000, then you can consider applying for real estate tax relief.

Applications must be submitted typically between February 1st and March 1st.

They publish a PDF form to their program page when applications are open and ask that you either email it to taxrelief@charlottesville.gov or mail to Commissioner of the Revenue P.O. Box 2964 Charlottesville, VA 22902-2964.

Tiers for the Real Estate Tax Relief are currently reported on the Charlottesville website as:

COMBINED AGI
REAL ESTATE  TAX RELIEF %
$0 – $35,000 
100%
$35,001 – $45,000 
80%
$45,001 – $55,000
60%
$55,001 – $60,000
40%

 

Photo by Hayrullah Gozcu on Unsplash. Image has been cropped. This information in this article is as of August 2023.

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Megan Russell has worked with Marotta Wealth Management most of her life. She loves to find ways to make the complexities of financial planning accessible to everyone. She is the author of over 800 financial articles and is known for her expertise on tax planning.