Results of the board of directors: Tax form and exemptions for elderly and disabled residents | New
[ad_1]
Income Commissioner Stacey Fletcher presented a proposal at the Oct. 4 meeting of the Louisa County Board of Supervisors to exempt residents who own a motor vehicle, trailer or boat from filling out a property tax form staff every year. The amount a resident will pay in personal property tax would be determined based on the tax form filed the previous year.
The only reason a new tax form should be completed is if a taxpayer has made a change such as acquiring a new vehicle or selling one. The county would save about $ 30,000 by not sending out personal property tax forms each year.
Supervisor Toni Williams (Jackson) was concerned about residents who might forget to contact the commissioner to report a change. But Fletcher said his staff get monthly reports from the Department of Motor Vehicles to track changes.
Adams said he prefers the high mileage form, which is normally sent with the personal property tax form, to continue to be sent to residents each year.
Williams made a motion to support Fletcher’s proposal, if it is phased in. The council voted unanimously in favor.
Exemption for elderly / disabled
Fletcher explained his proposal to change the section of the county code that deals with real estate tax breaks for the elderly or totally disabled. She suggested adjusting the sliding scale used to determine the percentage of assistance eligible residents receive.
This follows the board vote last May to increase the net worth cap for tax break eligibility. Households with a net worth of up to $ 200,000 may now be eligible; previously, the limit was $ 100,000.
The current sliding scale has four categories of net worth ranging from $ 0 to $ 200,000. (See graph) The last category is $ 75,001 to $ 200,000, which is much larger than the others. Fletcher suggested creating two more net worth categories to make the sliding scale increments more even. With the change, the last category would be $ 150,001 to $ 200,000.
Council voted in favor of the amendment.
[ad_2]
Source link
