Real estate tax; limitation on tax rate. (HB169)

Introduced By

Del. Scott Lingamfelter (R-Woodbridge) with support from co-patron Del. Jeff Frederick (R-Woodbridge)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Real estate tax; limitation on tax rate. Provides that localities must set real estate tax rates so that the total real estate tax revenue will not increase by more than 3% over the previous year's total real property tax levies with one exception. The exception would allow a locality to set its property tax rate at a rate not to exceed the rate of population growth plus the rate of inflation in the locality for the immediately preceding year, but in no event shall the rate be set at any amount that would produce more than 6% growth. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/29/2005Prefiled and ordered printed; offered 01/11/06 065110380
12/29/2005Referred to Committee on Finance
01/12/2006Fiscal impact statement from TAX (HB169)
01/18/2006Assigned to Finance sub-committee: #1 (Orrock)
01/26/2006Fiscal impact statement from DHCD (HB169)
02/15/2006Left in Finance