Commissioner of Revenue Eligibility Requirements
- The title of the property for which exemption is claimed is held, or partially held on January 1 of the taxable year, by the person or persons claiming exemption. Qualified applicants receive exemption based upon percentage of property owned.
- The head of the household occupying the dwelling and owning title, or partial title, thereto is 65 or older or totally and permanently disabled not later than December 31 of the year immediately preceding the taxable year.
- The dwelling must be occupied as the sole dwelling of such person or persons. Dwelling may include mobile homes. A temporary residence in a hospital, nursing home, convalescent home, or other facility for medical or mental care, shall not be construed to mean that the real estate for which tax is sought has ceased to be the sole dwelling of such persons during such extended periods of the other residence, unless such real estate is used by or leased to others for consideration.
- The individual gross income of the owner during the year immediately preceding the taxable year shall be determined by the Commissioner of the Revenue to be an amount not to exceed $35,000 and with a gross combined income not to exceed $50,000. Gross combined income shall include all income from all sources of the owner, owner's spouse living in the dwelling for which the exemption is claimed. Relatives living in the household with income must qualify as prescribed in §58.1-3211. "Owner" as used herein shall also be construed as "Owners". The following exclusions may apply:
- An amount of $10,000 of income from all relatives living in the dwelling who are not the spouse of the owner
- An amount of $10,000 of income for an owner who is permanently disabled
- All income of a person who qualifies as a caretaker of the owner as set forth in §58.1-3211.
- The total combined financial worth of the owner as of December 31 of the year immediately preceding the taxable year shall be determined by the Commissioner of Revenue to be an amount not to exceed $150,000. The total financial worth shall include the value of all assets, including equitable interest, of the owners, and of the spouse of the owner, and shall exclude the fair market value of the dwelling and up to 10 acres of land upon which it is situated.