Property Tax Exemptions in Virginia

Real property taxes in Virginia are assessed by counties, cities and towns based on 100% of the fair market value of the property, and rates vary across the state. As indicated by the Virginia Department of Taxation, most counties and cities offer real property tax relief for homeowners who are 65 years of age or older, or who are disabled, regardless of age. In order to qualify, you must own and occupy the home as your principal residence and your household income is limited to a certain amount, generally $50,000 if you are single and $75,000 if married, but this amount can vary.

For example, in Fairfax County, you can qualify for this relief if you or your spouse, if you are married, are 65 or older or permanently disabled. Total household income, including the owners and any relatives who live in the home cannot be more than $72,000. Each relative other than the spouse can exclude the first $6,500 of income and disabled persons can exclude the first $7,500 of income. Also, the total assets of the owners and spouses who live in the home cannot be more than $340,000, excluding the value of the home, furnishings, and up to one acre of land. The amount of tax relief is a percentage, based on your gross income, with 25% as the minimum relief percentage for higher incomes up to 100% relief for lower incomes.

Other counties, cities and towns in Virginia offer similar exemptions or real property tax deferrals or freezes for homeowners who are age 65 or older or totally disabled. There may also be rebates available for renters.

In order to receive property tax relief, you need to apply for it. You should check with your local tax assessor to see if you qualify and what forms and documentation you need to present in order to apply.

Disabled veterans exemption

According to Franklin County, Virginia, effective January 1, 2011, Virginia allows a 100% real property tax exemption for disabled veterans and their spouses. To qualify, you must have a certification from the U.S. Department of Veterans Affairs of a 100% service-connected permanent and total disability. Surviving spouses of veterans who are eligible for the exemption also qualify if the veteran died on or after January 1, 2011, the surviving spouse does not remarry and continues to occupy the property as his or her primary residence.

Solar energy systems

According to the Database of State Incentives for Renewables & Efficiency, several counties and cities in Virginia offer a real property tax exemption on the cost of solar energy systems installed at a homeowner's residence. These include passive solar space heating, solar water heating, active solar space heating, thermal electric and solar photovoltaic systems. There may also be an exemption for recycling equipment.

Sources:

Disabled Veterans Real Property Tax Relief, Franklin County, Virginia

Local Option -- Property Tax Exemption for Solar, Database of State Incentives for Renewables & Efficiency

Real Estate Tax Exemption, City of Virginia Beach

Tax Exemption, The City of Portsmouth, Virginia

Tax Relief for Older Virginians & Virginians with Disabilities, Virginia Department of Taxation