We've learned of a county program that offers significant tax relief to seniors in Henrico County.  It’s called Real Estate Advantage Program, or REAP.

REAP’s purpose is to substantially reduce or eliminate the real estate tax for the majority of senior citizens and disabled households.  Many of Hatcher’s seniors could qualify for this program, and receive substantial savings on their tax bill.  Here’s a summary of information about REAP:

• The resident must own and occupy the real estate and must be 65 or older, or permanently and totally disabled.
• The annual household income cannot exceed $62,000.
• The homeowner’s net worth cannot exceed $350,000, excluding the value of the home and up to 10 acres.
• Home owners can receive a maximum of $3,000 in annual tax relief.
• The deadline for homeowners to apply for REAP is April 1, 2008.

For more information about REAP or to obtain an application call 501-4263 or visit the Finance Department Revenue Division at Henrico Government Center, 4301 E Parham Road.  Or click here to go directly to the REAP page on the Henrico County website.