A public hearing will be held at the Oct. 4 Louisa County Board of Supervisors meeting to discuss personal property taxes and real estate tax relief for the elderly and disabled.
Louisa County Commissioner of Revenue Stacey Fletcher provided details to the board earlier this year on the real estate tax relief. The original combined net worth limit sat at $100,000 for all assets not including the house and up to 10 acres that the owner possesses. Fletcher proposed that the net worth limit be increased to $200,000.
The board unanimously approved the increase but it only applied to a small percentage of those eligible based on their income. According to Fletcher, the scale used to determine the percentage of relief a taxpayer will receive is set to be adjusted, pending board approval, for the purpose of being able to provide relief to a larger population of qualifying residents.
The county has proposed an addition to Louisa County Code Chapter 70 to allow an exemption for owners of a motor vehicle, trailer, or boat from filing a personal property tax form each year. They will use the most recent tax form to determine the amount a property owner will need to pay.
The only reason a member of the community would need to submit a new tax form is if there are changes to be made, such as the purchase of a new vehicle. The exemption does not apply to mobile homes, aircraft, or businesses.
Last updated on Oct. 3 at !2:30 p.m.