FY 24 Budget Q&A #007: What would be the cost of forgiving property taxes for seniors over 70 that have lived in the city for 35 or more years as a strategy to help seniors age in place?
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Question: What would be the cost of forgiving property taxes for seniors over 70 that have lived in the city for 35 or more years as a strategy to help seniors age in place? How many seniors would be served by such a policy change? (Councilwoman Gaskins)
Response:
The City lacks legal authority to implement this kind of policy. Va. Code § 58.1-3212 states as follows:
“No local ordinance shall require that a citizen reside in the jurisdiction for a designated period of time as a condition for qualifying for any real estate tax exemption or deferral program established pursuant to § 58.1-3210.”
