[Archived] City of Alexandria Offers Affordable Homeownership

City Press Release


	City of Alexandria, Virginia Office of the City Manager Alexandria City Hall 301 King Street, Suite 3500 Alexandria, Virginia 22314-3211 www.alexandriava.gov Telephone: 703.838.4300 Fax : 703.838.6343

FOR IMMEDIATE RELEASE
June 16, 2004
PIO 153-04

City of Alexandria Offers Affordable Homeownership
Preservation Grant Program

Residents of the City of Alexandria who meet certain requirements by Jan.1 of each year may be eligible for the City’s Affordable Homeownership Preservation (AHOP) $250 Grant Program. The amount of the grant for 2004 is $250 which is received in the form of a tax credit to be applied to the real estate tax payment due Nov. 15.

The AHOP program was created because in recent years, the value of residential property has increased at a rate much greater than the rate of inflation. This caused the amount of real estate taxes on the average home to substantially increase, despite recent reductions in the real estate tax rate. As a result, many lower income homeowners are experiencing difficulty in maintaining affordable homeownership.

The application deadline for the grant is Sept. 1, 2004. Early submissions are encouraged. The completed application should be mailed to: Revenue Division, Taxpayer Branch, P.O. Box 178, Alexandria, VA 22313.

In order to be eligible for the grant, the following requirements must be met:

• The total combined adjusted gross income of the applicant’s household may not have exceeded $61,000 during the calendar year 2003.
• The total assets of the apllicant’s household, excluding the value of the home, personal vehicles, and assets in retirement plans, shall not have exceeded $50,000 as of Dec. 31, 2003.
• The assessed value of the property for which the grant is requested must not exceed $362,000.
• The applicant and/or the applicant’s spouse must own at least 50 percent of the property for which the grant is requested.
• The applicant must occupy the property as his/her sole residences as of Jan.1,2004 and throughout the year.
• There may not be any out-standing taxes due on the property for which the grant is being sought.
• Homeowners who receive benefits from the City’s Real Estate Tax Relief Program for the Elderly or Permanently and Totally Disabled are not eligible for the AHOP program.
To request an application form or for additional information, contact the Taxpayer Services Branch, City Hall, Room 1700, 301 King St., Alexandria, VA 22314 or call 703.838.4570.

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