Real property tax; commercial property in Northern Virginia and Hampton Roads. (HB2480)
Introduced By
Del. Tim Hugo (R-Centreville) with support from co-patron Del. Margi Vanderhye (D-McLean)
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
Real property tax; commercial property in Northern Virginia and Hampton Roads. Requires localities to use the revenue from the special real property tax on commercial property in localities embraced by the Northern Virginia Transportation Authority or the Hampton Roads Transportation Authority solely for new road construction and new public transit construction. Under current law, the localities must use the revenue for transportation purposes that benefit the special regional transportation tax district to which the locality belongs. Amends § 58.1-3221.3 (“(Effective until June 30, 2013) Classification of certain commercial and industrial real property and taxation of such property by certain localities.”), of the Code of Virginia. View Full Text »
