There are two proposed amendments to the Constitution that would affect property taxes for some of you. Both of these proposed amendments will be on the ballots a couple weeks from now, so read on to make sure you understand the issue.
The first amendment proposes giving localities the ability to reduce the property tax burden on folks in their communities who are over 65 and meet certain financial qualifications. The amendment would let the localities set those financial limits.
The second amendment proposes exempting from property taxes (on their principal residence) all veterans who are totally and permanently disabled due to their service. This benefit would carry over to a surviving spouse as well.
If you are interested in reading all the details about each of these proposed changes, head on over to the Virginia Association of Realtors article about this issue.