Real estate taxes; assessments, bills, and deferral by localities. (SB779)
Introduced By
Progress
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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
Property taxes; assessments, bills, and deferral. Requires localities (i) to include the tax rate that will apply to reassessed real property in the notice to taxpayers regarding the reassessment, (ii) to attach to each property tax bill the tax rate that will apply, the assessed value of the property, the total amount of the new tax levy, the total amount of the prior year's tax levy, and the percentage change in the new tax levy from the immediately prior year's tax levy, and (iii) to permit taxpayers to defer a portion of the increase in real property taxes on the primary dwelling owned and occupied by the taxpayer until the property is transferred or until the taxpayer's death. The bill has a delayed effective date of January 1, 2009. Amends § 58.1-3219 (“Deferral of portion of real estate tax increases.”), § 58.1-3330 (“Notice of change in assessment.”), § 58.1-3912 (“Treasurers to mail certain bills to taxpayers; penalties; electronic transmission.”), of the Code of Virginia. View Full Text »
