Friday, September 5, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB1672: Real property; establishes separate classes for purposes of taxation rates.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered § 58.1-3221.2 as follows:
§ 58.1-3221.2. Classification of real property for taxation.
A. Each type of real property set forth below is declared to be a separate class of property and shall constitute a classification for local taxation of real property.
1. Real estate devoted to agricultural use, horticultural use, forest use, or open-space use as defined in § 58.1-3230;
2. Residential property, as defined in § 6.1-409, and unimproved property that is locally zoned solely for residential purposes. Property that otherwise meets the definition of residential property shall not be classified otherwise solely because a person residing in the property also conducts business in the property.
B. The governing body of any county, city or town may levy a tax on the property enumerated in subsection A at different rates from each other and from the tax rate levied on all other real property.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.