Monday, May 12, 2008
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Tracking Virginia’s General Assembly
since 2007.
HJ19: Constitutional amendment; assessments of real property and tax rates (first reference).
Chief Patron
Del.
Jeff Frederick (R-52)
Jeff Frederick
(R-52)
Woodbridge, VA
Served: 2004–
Progress
 |
Introduced |
 |
Passed Committee |
 |
Passed House |
|
Passed Senate |
Status
01/18/2008: Failed to Pass in Committee
Summary
Constitutional amendment; assessments of real property and tax rates (first reference). Provides that assessments of real property shall not increase annually by more than one percent plus the percentage increase, if any, in the rate of inflation. Increases in the rate of taxation on real property are limited to one percent per year.
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This bill is being tracked by Baker_G, Virginia Interfaith Center for Public Policy, VSBA, Vivian P., Americans for Prosperity, Martin T. and Pete F.
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Comments
Great, Fairfax can continue to tax people right out of their homes. I bought in OCT 04, when I returned to the area for work. The house had been assessed JAN 04 and my understanding of the assessments was they were to be conducted every three years. In JAN 05 Fairfax reassessed, the property tax DOUBLED in one year. I HAD A 30 YR FIXED, but as a single income household THE MONTHLY PROPERTY TAX PAYMENT DOUBLING WITHIN 6 MONTHS OF BUYING REMOVED PART OF THE BUDGET CUSHION I HAD BUILT IN and I PANICKED KNOWING I WOULD NOT GET ENOUGH OF A RAISE EVERY YEAR TO COVER THAT....SO I REFI'd TO AN ARM. Good thing since FIARFAX INCREASED THE PROPERTY TAX AGAIN IN 06 and 07...EVEN AS MY BANK HAS DECLARED A 100K REDUCTION IN PROPERTY VALUE ACCORDING TO "INTERNET FORMULAS."...now HB...if investors can't buy them for profit, they won't buy at all...is this so the state can take them over and profit even more?
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