Real estate tax; assessment of real property by localities. (HB2746)

Introduced By

Del. David Englin (D-Alexandria)

Description

Local income tax; freeze real estate tax amount. Allows localities to impose a local income tax if they freeze the amount of real estate tax collections as of the date the local income tax is adopted. Prior to adopting the tax, there must be a referendum approving it, and the local governing body must adopt an ordinance. Localities will continue to assess real property as they normally would. The purpose of the local income tax is to make up the revenues that would have been collected from the real property tax if the collections amount had not been frozen. Read the Bill »

Outcome

History