Laserfiche WebLink
AN ORDINANCE TO AMEND SECTIONS 35-224(E) AND (F); 35-225; <br />35-226; AND 35-227 PERTAINING TO REAL ESTATE TAX EXEMPTION FOR <br />CERTAIN ELDERLY AND PERMANENTLY DISABLED PEOPLE. <br /> <br /> BE IT ORDAINED by the Council of the City of Portsmouth, <br />Virginia, that Sections 35-224(e) and (f); 35-225; 35-226 and <br />35-227 of the Code of the City of Portsmouth, Virginia, be <br />amended as follows: <br /> <br />Section 35-224(e). Eligibility for exemption. <br /> <br /> (e) The total combined income from all sources for the <br />immediately preceding calendar year of the owner or owners <br />claiming tax exemption and of the owner or owner's relatives <br />or other household member living in the subject dwelling shall <br />not exceed Fifteen thousand dollars ($15,000.00) providing the <br />first Four thousand dollars ($4,000.00) of income of each <br />relative other than spouse or other household member of the <br />owner or owners who is living in the dwelling shall not be <br />included in such total. <br /> <br />Section 35-224(f). Eligibility for exemption. <br /> <br /> (f) The net combined financial worth, including <br />equitable interests as of the 31st day of December of the <br />immediately preceding calendar year, of the owner or owners <br />and of the spouse of any owner, excluding the value of the <br />dwelling and the land, not exceeding one acre, upon which it <br />is situated, shall not exceed Fifty thousand dollars <br />($50,000.00). <br /> <br />Section 35-225(g). Qualifying for exemption. <br /> <br /> (g) Not withstanding the provisions of subparagraph (a) <br />of this section, any person or persons %~ho may qualify for <br />the real estate tax exemptions provided by this article as a <br />result of amendment by City Council of the combined income or <br />net combined financial worth definition as set forth in <br />Section 35-224 shall be permitted to make application for such <br />exemption not later than the 30th day of June immediately <br />preceding the taxable year in question. <br /> <br />Section 35-226. Amount of exemption. <br /> <br /> The_ oerson or persons qualifying for and claiming <br />exemption shall have exempted that percentage of the real <br />estate tax levied on the qualifying dwelling set forth in <br />following schedule: <br /> <br />the <br /> <br /> <br />