Russell County leaders are considering increasing tax relief for older residents and the disabled, who are “bearing an extraordinary tax burden,” according to the proposed ordinance.
Many of those citizens are on fixed incomes and have been hit hardest by the increase in property taxes as well as the escalating costs of electricity and prescription medication, according to County Administrator Lonzo Lester.
During the Monday night meeting of the county board of supervisors, a public hearing will first be held so those attending can weigh in on the subject.
The board will make three decisions that would increase eligibility for real property tax relief: increasing the income eligibility amount, which is now $30,000 to $40,000; increasing the combined income amount, which is $80,000 per household to $100,000; and increasing the relief amount, which is currently $165 to $250 or $300.
Like most localities across Southwest Virginia, the value of property in Russell County jumped significantly after the recent property reassessment, which is conducted every six years. To help offset the increase of more than 36%, the board voted earlier to decrease the property tax rate from 63 cents per $100 of assessed value to 57 cents, which meant the average property tax bill went up by about 22%, Lester said.
To qualify, property owners must be at least 65 years old or permanently disabled. They also must have only one home and own 10 acres or less of land.
Those interested must apply for tax relief through the county’s commissioner of revenue.
The meeting is at 6 p.m. Monday at the Russell County Governmental Center in Lebanon. Here’s the agenda.
