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To amend City Code ?? 26-364, concerning tax relief for elderly persons, and 26-365, concerning tax relief for qualified permanently and totally disabled persons, for the purpose of extending the deadline to file an application for tax relief from March 31 of the taxable year to December 31 of the taxable year.
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THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That sections 26-364 and 26-365 of the Code of the City of Richmond (2020) be and are hereby amended and reordained as follows:
Sec. 26-364. Tax relief for elderly persons.
(a) 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.
(b) 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.
(c) 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 in which the taxpayer initially applied and qualified. If, for any tax year following the initial qualification of a taxpayer for a tax freeze such taxpayer becomes disqualified, any subsequent application for exemption by such taxpayer shall be treated as an initial application for purposes of determining the tax freeze.
(d) Administration of exemption or freeze. The exemption and the fre...
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