Saraho

Interesting. In other places that I have lived there has been a substantial homesteaders exemption available to all homeowners. In Mississippi, it actually amounted to $75,000 which really reduced your amount of tax. I guess it varies from state. Is the new governor of Virginia suggesting a 20% homestead exemption for everyone or just for low income individuals? Or perhaps that was a proposal that did not pass?

schlegal1

Well, it is currently only a proposal and Gov.-elect Kaine is really just proposing an amendment to the VA Constitution that would allow localities to offer up to 20% tax exemption on property taxes. Localities would then opt-in on their own terms.

Since property taxes pay for public schools, this could get a lot of public debate and may not actually pass (people don't want to underfund schools).

Also, even if localities pass an exemption, it will vary from place to place and there may be restrictions on who will qualify (e.g. low-income, senior citizens, first-time homeowners). All this just depends on what your locality passes, if anything.

Christina

You should check out Shepherdstown, it's a cute town.

I live in Maryland and we don't have any homestead exemption -- at least, not for any bracket I would fall into, so if there is one, it's by income and/or age. I know Washington DC has one that I think is for every property that is owner-occupied. So, that helps out residents a lot in comparison to businesses and rental companies.

But I don't see the point to giving everyone a homestead exemption, and have never heard of that, myself. It seems you're just changing the property tax rate if everyone gets it. Also, it wouldn't matter so much in these small rural areas if it were like DC and applied to owner-occupied residences, as most of them would be. I"m just curious about it, not that I don't believe it -- just seems weird to give everyone an exemption.

Saraho

The homestead exemption that I've experienced in Alabama, Mississippi, and Louisiana applies only to owner -occupied house.

joolleeb

http://www.mtamaryland.com/services/...nSystemMap.cfm

Here is a link to the MARC and Light rail in WV, MD to Union Station DC.

I think the Duffiels station is close to Shepardstown, WV.
When you copy and paste the link make sure you take out any spaces that may have occurred when copying.