Lower income elderly and disabled James City County residents are getting an additional cut to their real estate tax bill this year.
County Supervisors unanimously approved increasing the real estate deduction for qualified residents from $150,000 to $200,000 at their meeting Tuesday night.
Commissioner of the Revenue Richard Bradshaw said the change would go into effect for December’s tax bill and estimated it would cost the county as much as $628,000 in revenue.
County Administrator Scott Stevens said the county could absorb the cost by trimming other expenses.
To qualify for the exemption, the taxpayer must be over 65 or totally disabled, with a household income of less than $55,000 a year and total assets – not including their home – of less than $200,000.
The supervisors were ready to approve the change at their July meeting but were told by the county attorney they needed to advertise a public hearing on the matter.
Because the supervisors did not meet last month, Sept.8 was the first date they could vote on the change. No one spoke at the public hearing.