Sunday, July 20, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB2611: Income and personal property taxes; localities to impose.
Chief Patron
Del.
Vivian Watts (D-39)
Vivian Watts
(D-39)
Annandale, VA
Served: 1996–
Progress
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Introduced |
 |
Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
Local piggyback income tax and personal property tax. Allows localities to impose a local income tax at a rate of either 0.50% or 1% upon the Virginia taxable income of individuals, trusts, estates, and corporations provided the personal property tax rate does not exceed $0.01 per $100 of value on personally owned motor vehicles. The Tax Commissioner collects the tax and returns it to localities based on taxpayers' residences. A new classification for personal property tax purposes is created for motor vehicles used for nonbusiness purposes. The provisions of the act will take effect January 1, 2008.
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Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
