State
Virginia
Year
2020
Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Benefit Type
Deferral
Exemption
Benefit
Exemption, deferral, or a combination of the two, on property tax to eligible claimants. At local option, the amount exempted or deferred is up to the portion of tax liability from when the claimant becomes 65 or from the year they apply. Additionally, a local government can include a deferral or exemption from any property tax increases.
How is Benefit Disbursed
Other
Eligible Property Type
Residential
Characteristics of Eligible Property
Eligibility is limited to the applicant's sole residence. Manufactured homes are considered eligible property. Real property could either be owned by a sole person or in conjunction with their spouse, a person or person and their spouse hold the power of revocation, or a person or a person and their spouse possess a life estate or an estate for joint lives or enjoy continuing right of use of support.
Eligibility Criteria
Age
Disability
Homeowner
Description of Eligibility Criteria
Claimant must be 65 or older or may include totally and permanently disabled at local option. Local governments may also establish income and financial worth limitations.
Local Option in Adoption of Program
Local government must take action to opt in
Local Option Regarding Program Features
Local option regarding program features
State Funding for Local Tax Loss
Local government covers all of its tax loss
Record ID
VA101_RR20