Exemption for the Elderly At the discretion of each city or county, elderly homeowners may be eligible for property tax exemptions. The program exempts a portion of the property taxes. In some localities, the percent of taxes that are exempted declines as income increases.

Virginia law allows for the filing of a homestead deed within your local county Land Records office. In Fairfax County and the City of Fairfax, homestead deeds are recorded in the Land Records Division of the Fairfax Circuit Court.

Virginia homestead laws allow residents to designate up to $5,000 worth of real estate (including mobile homes) as a homestead, plus $500 for each dependent. If a resident is sixty-five years of age or older, or a married couples files for an exemption together, up to $10,000 may be exempted under the homestead laws.

The Homestead Deed must be in proper legal form and should be prepared by a Virginia licensed attorney. Once the Homestead Deed is filed with the Circuit Court for the city or county where the debtor lives, and other needed steps are taken, the property generally is protected from creditors.

Under the Virginia exemption system, homeowners can exempt up to $25,000 of equity in a home or other property covered by the homestead exemption. The exemption applies to real property, which includes your home or condominium and personal property used as a residence, so your mobile home would also be covered.

More info

Do you have to be a homeowner or home buyer to file a Homestead Deed? No. Any Virginia resident 18 years of age or older may file a Homestead Deed. A.Edit, sign, and share virginia homestead exemption form online. No need to install software, just go to DocHub, and sign up instantly and for free. This document provides essential details and step-by-step guidance for filling out the Declaration of Homestead form. You don't need to worry about any "homestead exemptions" in Virginia. You are not eligible for this tax exemption if you have remarried. Under the current law, the Homestead Deed must be filed within five days of the conclusion of the meeting of creditors in a bankruptcy case. Table of Contents " Title 34. This document provides essential details and step-by-step guidance for filling out the Declaration of Homestead form.

Homestead Act For Homeowners In Virginia

Description

Related forms

Show more info

Form Rating

Form popularity

FAQ

Do seniors get a discount on property taxes in Virginia?

How do I file a homestead deed in Virginia?

Who qualifies for homestead exemption in Virginia?

How to homestead your house in Virginia?

How much is the homestead exemption in Virginia?

More info

Trusted and secure by over 3 million people of the world’s leading companies