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2024-15ORDINANCE NO. 2024-15 AN ORDINANCE AMENDING CHAPTER 90 {TAXATION), ARTICLE II (REAL PROPERTY TAXES), DIVISION 3 OF THE CODE OF THE CITY OF FAIRFAX, VIRGINIA, PRETAINING TO TAX EXEMPTIONS FOR THE ELDERLY OR DISABLED. BE IT ORDAINED, by the City Council of the City of Fairfax, Virginia, that Chapter 90, Article II, Division 3 of the Code of the City of Fairfax, Virginia, is amended to read as follows: Sec. 90-74. Criteria for exemption. Tax exemption shall be granted to persons who qualify under the following provisions: (1)The title of the property for which exemption is claimed must be vested on January 1 of the taxable year, wholly or partially in the name of the person or persons claiming exemptions. (2)The head of the household occupying the dwelling as his sole dwelling and in whose name, title, or an interest in title, is vested must, on December 31 of the year immediately preceding the taxable year, be either (i) 65 years of age or older, or (ii) permanently and totally disabled. (3)The gross combined income of the owner during the year immediately preceding the taxable year must be determined by the city manager to be an amount not in excess of $85,000.00 $90,000.00. (4)The net combined financial worth, including equitable interests, as of December 31 of the immediately preceding taxable year, of the owner, and of the spouse of any owner, excluding the value of the dwelling and the land, not exceeding one acre, upon which it is situated, must not exceed $400,000.00 $440,000.00. Sec. 90-76. Amount of exemption. When a person claiming any exemption under this division conforms to the standards and limitations set forth in this division, the tax exemption shall be shown for the selected category: Income $0.00 -$65,000.00 $0.00 -$75 000.00 $75 001 on - $.BO 000.00 $65,001.00 -$75,000.00 $80 001.00 -$85 000.00 $75,001.00 -$85,000.00 $85 ()()1 _I)() -$90 000.00 This Ordinance shall become effective as provided by law. Introduced: November 12, 2024 Public Hearing: December 10, 2024 Adopted: December 10, 2024 VOTE: Councilmember Bates Aye_ Councilmember Doyle Feingold Aye Councilmember Greenfield Aye Councilmember Lim Aye Councilmember Ross Aye Councilmember Stehle Aye Exemption 100% 75.% 50% 25% Mayor