Real estate tax; limitation on rates by localities. (HB74)

Introduced By

Del. Harry Purkey (R-Virginia Beach)

Harry Purkey (R-Virginia Beach)
Served: 1986–
with support from co-patron Jeff Frederick (R-Woodbridge)

Progress

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

Description

Real estate tax rates. Requires each locality to lower its real estate tax rate for the forthcoming tax year to produce no more than the previous year's real property tax levies when any annual assessment, biennial assessment, or general reassessment of real property by the locality would result in an increase in the total real property tax levied. The locality may increase the rate above the reduced rate after a public hearing held no sooner than 30 days after the rate reduction. The bill has a delayed effective date of January 1, 2009.   View Full Text »

Outcome

Bill Has Failed
View Bill's History

Video

Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 02/12/2008.