Tax Relief for Elderly and Disabled

Overview

County staff was directed to consider increasing the net financial worth limitation for tax relief for elderly individuals and individuals with disabilities because the limit has not been increased in more than 20 years, and to allow for proration of the exemption when only some of the owners of the property qualify for the exemption. An increase would better reflect the current financial situations of the residents of the Potomac District and Countywide. The County Executive was directed to work with staff to schedule, advertise, and hold the required public hearing for the Board to consider amending County Code Sec. 26-38 to increase the net worth limitation from $340,000 to $400,000 for the tax relief for elderly individuals and individuals with disabilities, and also to provide for the exemption to apply to property jointly held by two or more individuals not all of whom are at least age 65 or permanently and totally disabled, provided that the dwelling is occupied as the sole dwelling by all such joint owners. The County Executive is directed to work with the County Attorney’s Office to draft the necessary proposed County Code amendment for the Board’s consideration.

Supporting Materials

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