Homestead Exemption Application Deadline In Virginia
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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.
You May be Eligible for Real Estate Tax Relief if you Qualify: Tax Relief for Seniors and People with Disabilities. Disabled Veterans or Surviving Spouse Exemption. Exemption for Surviving Spouse of a Member of the U.S. Armed Forces Killed in Action.
An exemption or deferral enacted pursuant to § 58.1-3210 or 58.1-3211.1 may be granted for any year following the date that the qualifying individual occupying such dwelling and owning title or partial title thereto reaches the age of 65 years or for any year following the date the disability occurred.
You qualify for this 100% homestead exemption if you meet these requirements: You own a home and occupy it as your residence homestead. You are receiving 100% disability compensation from the US Department of Veterans Affairs for a service-connected disability.
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.
Applications are available at the county real estate assessments office or local office of the commissioner of revenue. Supporting documentation for income, assets, and liabilities may be required. A copy of federal income tax return and supporting schedules must be included.
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.
