February 20, 2007

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Call your delegate in support of homestead exemption constitutional amendment

The House of Delegates delayed a final vote today on the constitutional amendment to allow local governments to offer homestead exemptions.

SJR 354 (Rerras) allows the General Assembly to authorize localities to exempt or defer property taxes on up to 20 percent of the value of residential or farm property. It specifically provides that the local governments would be able to set restrictions and conditions on the exemption, partial exemption, or deferral of real property taxes. The exemption is limited to residential or farm property that is designed for continuous habitation and is the primary dwelling of the owner.

Please call your delegate and urge passage of this amendment !

Here are some talking points:

In many jurisdictions residential assessments have risen at a higher rate than commercial properties. The amendment would allow localities to target tax relief for homeowners.

The amendment would allow localities to develop tax relief programs that best suit the needs of their communities and taxpayers.

House of Delegates membership.

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