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To amend City Code §§ 26-364, concerning tax relief for elderly persons and evaluation of the exemption or freeze program, and 26-365, concerning real estate tax relief for qualified permanently and totally disabled persons and evaluation of the exemption or freeze program, for the purpose of increasing certain income and financial worth eligibility thresholds and corresponding tax relief benefits and changing the deadline for filing an application for tax relief under the Elderly Persons and Persons with Disabilities Real Estate Tax Relief Program from December 31 to June 30 of the taxable year.
THE CITY OF RICHMOND HEREBY ORDAINS:
That sections 26-364 and 26-365 of the Code of the City of Richmond (2026) be and are hereby amended as follows:
Sec. 26-364. Tax relief for elderly persons; evaluation of exemption or freeze program.
Exemption authorized. Real estate tax exemption is provided for qualified property owners, who are not less than 65 years of age and who are eligible according to the terms of this section. Persons qualifying for exemption are deemed to be bearing an extraordinary real estate tax burden in relation to their income and financial worth.
Freeze authorized. Real estate tax freeze is provided for qualified property owners, who are not less than 65 years of age and who are eligible according to the terms of this section. Persons qualifying for freeze are deemed to be bearing an extraordinary real estate tax burden in relation to their income and financial worth.
Freeze defined. As used in this division, the term "tax freeze" or "freeze" refers to the total exemption of that portion of the real estate tax which represents the increase in such tax since the taxpayer initially applied and qualified for exemption under this division, so that the taxpayer's real estate tax will be frozen at the amount assessed in the tax year prior to the tax year in which the taxpayer initially applied and qualified, known herein as the “base amount.” If, fo...
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