I am in favor of this bill which revises the local real property tax exemption and deferral program for elderly and disabled individuals in Virginia. Here's why:
Flexibility in Payment: By allowing localities to set terms for elderly and disabled individuals to pay off delinquent taxes through options like full payment, installment agreements, or settlements, this bill provides much-needed financial flexibility, reducing the immediate burden on those with fixed or limited incomes.
Long-Term Payment Plans: The provision to extend payment plans up to 72 months ensures that individuals who are eligible for exemptions or deferrals can manage their tax debts over a reasonable period, preventing financial hardship and potential loss of property.
Settlement Options: Offering the possibility to settle for less than the full amount of delinquent taxes acknowledges the financial constraints of elderly and disabled taxpayers, providing a compassionate approach to tax collection.
Enhanced Communication: Including information about the exemption and deferral program in assessment change notices and posting it on the locality's website increases awareness and accessibility of these benefits, ensuring more eligible individuals can take advantage of the program.
Prorated Benefits: Allowing for prorated exemptions or deferrals for the part of the year before an application is filed ensures fairness, as individuals who qualify mid-year are not penalized for the delay in applying, which might be due to unawareness or administrative delays.
Support for Vulnerable Populations: This bill directly supports elderly and disabled residents by making tax relief more accessible and manageable, promoting stability and dignity in their living situations.
Local Control: By giving localities the authority to implement these provisions, the legislation respects local governance, allowing tailored solutions that fit the economic and social context of each community.
I support this legislation for its compassionate approach to tax relief, enhancing accessibility, providing payment flexibility, and ensuring that local governments can support their elderly and disabled populations in a manner that is both fair and considerate of their financial situations.
I am in favor of this bill which revises the local real property tax exemption and deferral program for elderly and disabled individuals in Virginia. Here's why: Flexibility in Payment: By allowing localities to set terms for elderly and disabled individuals to pay off delinquent taxes through options like full payment, installment agreements, or settlements, this bill provides much-needed financial flexibility, reducing the immediate burden on those with fixed or limited incomes. Long-Term Payment Plans: The provision to extend payment plans up to 72 months ensures that individuals who are eligible for exemptions or deferrals can manage their tax debts over a reasonable period, preventing financial hardship and potential loss of property. Settlement Options: Offering the possibility to settle for less than the full amount of delinquent taxes acknowledges the financial constraints of elderly and disabled taxpayers, providing a compassionate approach to tax collection. Enhanced Communication: Including information about the exemption and deferral program in assessment change notices and posting it on the locality's website increases awareness and accessibility of these benefits, ensuring more eligible individuals can take advantage of the program. Prorated Benefits: Allowing for prorated exemptions or deferrals for the part of the year before an application is filed ensures fairness, as individuals who qualify mid-year are not penalized for the delay in applying, which might be due to unawareness or administrative delays. Support for Vulnerable Populations: This bill directly supports elderly and disabled residents by making tax relief more accessible and manageable, promoting stability and dignity in their living situations. Local Control: By giving localities the authority to implement these provisions, the legislation respects local governance, allowing tailored solutions that fit the economic and social context of each community. I support this legislation for its compassionate approach to tax relief, enhancing accessibility, providing payment flexibility, and ensuring that local governments can support their elderly and disabled populations in a manner that is both fair and considerate of their financial situations.