THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, December 22, 1995 TAG: 9512200142
SECTION: PORTSMOUTH CURRENTS PAGE: 03 EDITION: FINAL
LENGTH: Short : 36 lines
Senior citizens, age 65 and older, and permanently disabled property owners can apply for real estate tax discounts and freezes beginning Jan. 2.
The reduced tax is available to applicants with gross annual income of no more than $19,000 and financial reserves of no more than $64,200, not including the value of the home.
To be eligible for the freeze in real estate taxes, a household must have no more than $40,000 gross annual income and financial reserves of no more than $150,000, excluding the value of the home.
A household can be eligible for only one of the tax discounts.
In addition to income limitations, a person making the application must reside in and own or partially own title to the property for which the exemption is claimed. Also, the person making the application must not have given away assets to future heirs within the preceding five years if the assets would have made the applicant ineligible.
Applications for the tax discounts will be taken weekdays between 8:30 a.m. and 5 p.m. through April 30 at the Portsmouth Department of Social Services, 1701 High St.
Forms also are available at the Senior Citizens Center at 305 High St., the offices of the Commissioner of Revenue and City Treasurer in City Hall, and at all public library branches. Forms must be notarized before being considered for benefit eligibility. Notary services are provided at no cost for those who complete the forms at the Department of Social Services.
For information, call 398-3600. by CNB