This article provides for the exemption from
taxation of real estate owned by and occupied as the sole dwelling
of a person or persons not less than 65 years of age, subject to the
restrictions and conditions as outlined herein.
This article is adopted pursuant to the authority
granted by § 58.1-3210 of the Code of Virginia, 1950, as
amended.
This article is titled "An Ordinance Governing
the Exemption of Taxes on Property of Certain Elderly and Disabled
Persons in the County of Northumberland, Virginia," and shall be known,
designated and cited as the "Tax Relief for the Elderly and Disabled
Ordinance."
For the purposes of this article, certain words
and terms used herein shall be interpreted or defined as follows:
AFFIDAVIT
The real estate tax exemption affidavit.
COMMISSIONER OF THE REVENUE
The Commissioner of the Revenue of Northumberland County,
Virginia, or his/her duly authorized deputies or agents.
COUNTY
Northumberland County, Virginia.
DWELLING
The full-time residence of the person or persons claiming
exemption.
EXEMPTION
Exemption from the real estate tax of the County according
to the provisions of this article.
INCOME
Income from whatever sources derived, including but not limited
to Social Security payments, inheritances, gifts, gains from the sale
or exchange of assets, proceeds of insurance, welfare receipts, and
benefits under the Virginia Supplemental Retirement System.
NET COMBINED FINANCIAL WORTH
The fair market value of all assets, tangible or intangible, legal or equitable, of the owner or owners, and the spouse of any owner, less the liabilities of such person or persons, but excluding the value of the dwelling and the land, as provided in §
132-48B(2). Such term includes, but is not limited to, the cash surrender value of any life insurance policy owned by such person or persons.
PERMANENTLY AND TOTALLY DISABLED
A person shall be deemed permanently and totally disabled
if he or she is so certified and is found by the Commissioner of the
Revenue to be unable to engage in any substantial gainful activity
by reason of any medically determined physical or mental impairment
or deformity which can by expected to result in death or can be expected
to last for the duration of such person's life.
TAXABLE YEAR
The calendar year, from January 1 until December 31, for
which exemption is claimed.
Changes in respect to income, financial worth,
ownership of property, or other factors occurring during the taxable
year for which the affidavit is filed and having the effect of exceeding
or violating the limitations and conditions provided herein shall
nullify any exemption for the then current taxable year and the taxable
year immediately following.
On receiving an application as prescribed hereinbefore,
the Commissioner of the Revenue shall approve or disapprove the application
and return one of the submitted forms to the applicant so marked to
indicate the action taken by the Commissioner of the Revenue.
Any applicant making a false statement to obtain
a tax relief under this article shall be deemed guilty of a misdemeanor,
punishable by a fine not in excess of $200.