A deferral means that you may suspend paying your taxes until the property is sold or you are no longer the owner. Even if you receive a tax exemption, you can defer the remaining balance of your taxes due. If you are over the income limit for exemption but not above the deferral maximum income limit of $75,000, you may elect to defer all of your taxes.
Any deferred taxes must be repaid to the city and will include interest. Interest rates are changed annually and are set to the prime rate on January 1 of each year. The Prime Rate for 2016 is 3.50%.
Any City of Falls Church applicant for tax relief must own and reside in the home for which they are seeking relief. If the home is owned and titled by more than the primary tax relief applicant, then all income for all owners will be taken into account when calculating relief amounts. You will need all other titled owners to complete an application before April 15, 2016. Total financial worth, exclusive of the dwelling, household furnishings and 1 acre of land upon which the dwelling is situated, must not exceed $540,000 as of December 31, 2015. Special provisions apply for applicants living with relatives for the purpose of avoiding institutionalization. Certification forms will be provided upon request.
Personal Property/Automobile Decal Relief