HB2127: Real property; requires localities to provide individual notice to each taxpayer of certain rates.

Chief Patron

Del. Tim Hugo (R-40)

Tim Hugo (R-40)
Centreville, VA
Served: 2003–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

Bill is Dead

View Entire History

Summary

Real property tax rates; notice.  Requires localities to provide individual notice to each real estate taxpayer of certain proposed tax rates. The notice is triggered in any year in which any annual assessment, biennial assessment, or general reassessment at the current rate would result in an increase of one percent or more in the total real property tax revenue in the following year, and the locality's proposed rate would yield in the forthcoming year more than 101 percent of the total real estate tax revenue received in the prior year. The individual notice shall include the property owner's current real property tax levy, the real property tax levy at the proposed rate, as well as two incremental levies for potential rate changes between the current tax rate and the proposed tax rate.