Here are some facts about REAP. If you still have questions, here are some REAP frequently asked questions.
Application/Certification must be filed by April 1st annually with the Revenue Division. YOU MAY VIEW/PRINT THE REAP APPLICATION BY CLICKING HERE.
The person or persons claiming exemption must hold the title to the property for which exemption is claimed as of December 31st.
The applicant(s) occupying the dwelling and holding title must be sixty-five years of age or older, or permanently and totally disabled, as of December 31st. The property must be occupied as the sole dwelling of the applicants. A dwelling jointly held by husband and wife may qualify if either spouse is 65 or older or is totally and permanently disabled. Any co-owner(s), other than spouse, must be 65 or older or totally and permanently disabled in order for the property to qualify.
Gross combined annual income as of December 31st cannot exceed $67,000 from all sources, including Social Security.
Income of relatives living in the dwelling must be included in the gross income; however, the first $10,000 of the relatives' income, (other than the spouse's), will be excluded.
Examples of income: salaries, wages, social security benefits, pension/annuity, interest income, dividend income, capital gains, business income, rents received, welfare and gifts, etc.
Maximum net worth allowed for applicant, spouse, co-owners and their spouse's is $350,000 as of December 31st. The dwelling and up to ten acres of land on which the dwelling is located is excluded.
Examples of items included in net worth: vehicles, checking and savings accounts, certificates of deposit, stocks and bonds, life insurance policies with a cash value.
Proof of all income and net worth should be included with all applications.
Failure to complete application or certification in its entirety will disqualify applicant from the County of Henrico Real Estate Tax Advantage Program. Supporting documentation for each entry of income and net worth must be included with all applications.
Documentation needed:
Photocopies of:
If applying for the first time, attach a copy of each owner's driver's license or birth certificate as proof of age.
Proof of Disability is required for those under 65 years of age only. Attach certification from the Social Security Administration (Awards letter copy), Railroad Retirement Board, Department of Veterans Affairs or signed affidavits by two medical doctors licensed in Virginia to the effect that such person is permanently and totally disabled.
Application and affidavits for disability may be obtained from the Revenue Division offices. Any changes in income or in net worth occurring during the year must be immediately reported to the Revenue Division.
ALL INFORMATION ON THE APPLICATION IS CONFIDENTIAL AND NOT OPEN TO PUBLIC INSPECTION.