Constitutional amendment; assessment of real property for tax purposes (first reference). (SJ60)

Introduced By

Sen. John Miller (D-Newport News)

John Miller (D-Newport News)
Served: 2008–

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

Constitutional amendment (first resolution); assessment of property for tax purposes. Provides that tax assessments made by any county, city, or town of real property used by its owners solely for single family residential purposes may, by ordinance adopted by the local governing body, be reduced on an annual basis in an amount up to the first $100,000 of the assessed value, provided that such property has been the primary residence of its owners for at least five years.   View Full Text »

Outcome

Bill Has Failed
View Bill's History

Comments

Ronald Hintze writes:

This is a long overdue proposal, and one which needs to be supported. Sen Miller is to be commended for recognizing the adverse and substantial impact that property tax increases continue to have on Virginia's citizenry.

Posted 25 months ago.
Reid Greenmun writes:

Does this mean a person with a home assessed at $150,000 could end up paying taxes on only $50,000?

How is that fair to a person paying taxes on a $400,000 home?

Posted 25 months ago.