Roll-back taxes; locality to assess and collect for up to 15 years under value assessment program. (SB1043)
Introduced By
Sen. Emmett Hanger (R-Mount Solon)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Use value assessment; roll-back taxes. Allows counties, cities, and towns to assess and collect roll-back taxes for up to 15 years under a use value assessment program if all roll-back taxes, interest, and penalty are promptly deposited into a special fund and used to fund the locality's purchase of development rights program. Amends § 58.1-3237 (“Change in use or zoning of real estate assessed under ordinance; roll-back taxes.”), of the Code of Virginia. View Full Text »
Outcome
Bill Has Failed
View Bill's History
