Virginia Voters to Decide on Expanded Property Tax Exemption for Military Families

Virginia Proposition 5 on the November Ballot Would Expand Property Tax Exemption for Military Families

What is Virginia Proposition 5?

Virginia Proposition 5 is a proposed amendment to the Virginia Constitution that would expand the existing property tax exemption for military families. Currently, military families are eligible for a property tax exemption of up to $40,000 on their primary residence. Proposition 5 would increase this exemption to $50,000.

Who is Eligible for the Expanded Exemption?

The expanded exemption would be available to all active duty military personnel, members of the Virginia National Guard, and members of the Virginia Defense Force. The exemption would also be available to surviving spouses of military members who died in the line of duty.

What are the Benefits of the Expanded Exemption?

The expanded exemption would provide much-needed tax relief to military families. According to the Virginia Department of Taxation, the average property tax bill in Virginia is $2,300. For military families, this exemption would save them an average of $1,000 per year.

What are the Arguments in Favor of Proposition 5?

Supporters of Proposition 5 argue that it is a way to show gratitude to military families for their service. They also argue that the exemption would help to attract and retain military families in Virginia.

What are the Arguments Against Proposition 5?

Opponents of Proposition 5 argue that it would be too expensive. They also argue that it would be unfair to other taxpayers who do not qualify for the exemption.

What is the Future of Proposition 5?

Proposition 5 will be on the ballot in Virginia on November 7, 2023. A simple majority vote is required for the passage of the amendment.