QUESTION:

Saving on your property tax

After I moved down from New York to Virginia, I went to pay my property tax. Chatting with the lady who was processing my payment, I remarked that in NY State, that a reduction in your property tax was provided if you were a Veteran. And I asked if such an abatement was provided by Virginia. "Unfortunately, no," she responded.

"But," she said, "Virginia does provide an abatement based upon your total income, which is based upon the information on your Federal Income Tax Return."

So I filled out the forms and submitted them along with my previous year's tax return. And, (since I'm poor and I can prove it), I got a 60% property tax abatement. I own property in the "high rent" district, so the dollar amount was substantial.

It pays to ask your tax assessor what sort of tax abatements exist in your locale, and then determine if you can qualify. I hope that for many of you that it does. Good luck.
asked by grandpa24551, 9/4/2006
Categories: Reducing Retirement Expenses
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