Loudoun board lifts moratorium on property tax exemptions
Following the Board of Supervisors' lifting of a tax exemption moratorium for nonprofit and charitable organizations, Commissioner of Revenue Bob Wertz (R) is now accepting applications for nonprofits seeking the exemption, county officials announced Wednesday.
Wertz will accept applications from nonprofit groups seeking the exemption for the 2015 tax year until April 1, 2014.
With few exceptions, most nonprofits are not automatically exempt from local property taxes in the commonwealth, according to the county's public information office. Even charitable organizations that may have been deemed exempt from federal income taxes are subject to local property taxes in Virginia.
Applications must be completed and returned to Wertz with a postmark by April 1 for consideration. Any exemption, if granted, would be effective January 1, 2015.
Applications from organizations that do not automatically qualify for property tax exemption by classification will be considered at the Board of Supervisors Finance, Government Services and Operations Committee meeting in September, with full board consideration at its second business meeting in September.
Representatives of interested nonprofit organizations may obtain an application online through Loudoun.gov/cor and can contact the Office of the Commissioner of the Revenue at 703-777-0260 for further information.
Be the first to post a comment!