BziBee and Alison 's Blog

head_left_image

Norfolk Real Estate Taxes budget could hurt elderly and disabled

Read more here ! Bzibee Blog 

 

This Sunday I was reading in the Virginian Pilot a story that may effect  Norfolk’s elderly and disabled who receive a discount on Real Estate taxes. For many years qualifying Norfolk residents were able to get a discount on thier Real Estate taxes in amounts from 20%-100 % depending on income and eligibility . Im sure this was a welcome relief to the elderly and those disabled who are on fixed incomes.  Norfolk has tallied up the loss and realized this discount has grown from 2.1 million in 2000 to about 7.5 million. That is a huge amount of revenue being offered as discounts to the community. 
Starting this July 1 there will be a cap on the discount of 6 million combined. How will this effect people ? If you are currently getting 100% tax relief you will be safe. This change will effect people who qualify for a partial relief of the taxes.  There are no 100% decisions just yet and the criteria is still being worked out. 


Alison Creamer, Realtor, ABR, CDPE
Direct 757.652.8880
Licensed to sell Real Estate in Virginia
Keller Williams Realty
Follow Me On Twitter

Sell Hampton Roads Homes

 

 

Comment balloon 3 commentsAlison Creamer • June 18 2012 07:44AM
Norfolk Real Estate Taxes budget could hurt elderly and disabled
share
Read more here Bzibee Blog This Sunday I was reading in the Virginian Pilot a story that may effect Norfolk’s elderly and disabled who receive a discount on Real Estate taxes For many years qualifying Norfolk residents were able… more
608 Butterfly Drive Chesapeake
share
Acre lot and wooded Overview Maps Photos Description Tour 608 Butterfly Drive &… more
Lead conversation
share
Lead sends me an email telling me they want to list a home but left no address or number for me to follow up I reply I have searched every city for you name as an owner and cannot find and address. I dont have a number to call you… more