HomeMy Public PortalAbout1977_06_08_O009ORDINANCE NO.
AN ORDINANCE:
TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTED J~ne 8~ 1977
77-0-9 ADOPTED June 8~ 1977
ADDING A NEW SECTION 17-1.1 TO ARTICLE I, CHAPTER
17 OF THE TOWN CODE.
ORDAINED by the Council of the Town of Leesburg, Virginia,
as follows:
SECTION I. A new section is added to Article I, Chapter 17,
of the Town Code to read as follows:
Sec. 17-1.1. Tax Relief for the Elderly.
(a) As used herein:
(1)
Total combined income means gross income from all
sources of the owners of the dwelling residing
therein and of any relatives of the owner who re-
side in the dwelling, provided that the first
$4,000.00 of income of each relative, other than
the spouse of the owner or owners, who is living
in the dwelling shall not be included in such
total.
(2)
Net combined financial worth means all assets of
the owners of the dwelling and of the spouse of
any owner who resides therein, including equitable
interests, excluding the value of the dwelling and
the land in an amount not to exceed one acre upon
which it is situated.
(b) Any person not less than 65 years of age by Decem-
ber 31 of the year preceding the date of application, who
owns or partially owns a dwelling as the sole dwelling of
that person, shall be eligible for and may apply for an ex-
emption of real estate taxes on such dwelling and the land
in an amount not to exceed one acre on which it is situated,
provided that:
(1)
The total combined income, as hereinabove defined,
during the immediately preceding year cannot ex-
ceed $10,000.00.
(2)
The net combined financial worth, as hereinabove
defined, as of December 31 of the immediately pre-
ceding year cannot exceed $35,000.00