These requirements are set annually by the Board of Supervisors. You must be 65 years of age by December 31 of the preceding year unless you are permanently disabled. There is no age requirement for taxpayers who are permanently disabled . This includes the income of the applicant, their spouse and partial income of any relatives who reside in the house. This limit is subject to change on an annual basis.
Net worth includes all assets except for the value of the house and up to one acre of land.
Yes, all sources of income must be included as the gross income on the application. Dividends are counted as income only if the money is actually sent to the applicant and not reinvested. Since the value of the house and up to one acre of land is excluded from the net worth, the mortgage payment cannot be excluded. I am a new resident to Hanover County. I am moving out of Hanover County.