HB2746: Real estate tax; assessment of real property by localities.

Chief Patron

Del. David Englin (D-45)

David Englin (D-45)
Alexandria, VA
Served: 2006–

Progress

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

Status

Bill is Dead

View Entire History

Summary

Local income tax; freeze real estate tax amount.  Allows localities to impose a local income tax if they freeze the amount of real estate tax collections as of the date the local income tax is adopted. Prior to adopting the tax, there must be a referendum approving it, and the local governing body must adopt an ordinance. Localities will continue to assess real property as they normally would. The purpose of the local income tax is to make up the revenues that would have been collected from the real property tax if the collections amount had not been frozen.