Supervisors to consider property tax abatement

Contributed Report

The Hanover County Board of Supervisors will hold a public hearing on the County Administrator’s proposed Fiscal Year 2024 Budget on April 5. Among the items being considered is a proposal to declare a $4 million surplus in real property tax revenue, which would enable the board to provide an equivalent tax abatement to real property owners.

If approved by the board, this abatement would be applied to the June 5 bill of all real property owners who owe taxes. The billing statement will show the amount due based on the property assessment then show the abatement as a credit, lowering the property owner’s total tax liability up front.