Constitutional amendment; exempts certain homeowners from taxation (second reference). (HJ56)

Introduced By

Del. Paula Miller (D-Norfolk)

Paula Miller (D-Norfolk)
Served: 2005–

Progress

☑
 Introduced
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 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

Description

Constitutional amendment (second resolution); property exempt from taxation. Authorizes the General Assembly to enact legislation that will allow localities by ordinance to exempt from real property taxes, or defer real property taxes on, up to 20 percent of the value of residential or farm property that is the owner- occupant's primary dwelling and lived in continuously.   View Full Text »

Status

01/25/2008: Awaiting a Vote in the Privileges and Elections Committee
View Bill's History

Comments

Jim Duncan writes:

Why 20%?

Posted 28 months ago.
robert legge writes:

20% is a nice round number, Jim. This bill looks hard to vote against. It will be of more help to areas with a lot of second homes. In urban areas it will probably hurt renters, if the landlords taxes go up. But in areas where land values have risen thanks to rich second home buyers, and the district's local composite index has risen, it seems fair to get some more money from them. But if there are few second homes, people should not think their taxes will drop 20%. If the county has less assessed value to deal with, they are going to raise the tax rate. But I still think I will support this one.

Posted 26 months ago.