Real estate tax; requires each locality to lower its rate for forthcoming tax year. (HB1780)
Introduced By
Sen. John Cosgrove (R-Chesapeake)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Real estate tax rates. Requires each locality to lower its real estate tax rate for the forthcoming tax year, to produce no more than 101 percent of the previous year's real property tax levies when any annual assessment, biennial assessment or general reassessment of real property by the locality would result in an increase of 1 percent or more in the total real property tax levied. The locality may increase the rate above the reduced rate after a public hearing held no sooner than 30 days after the rate reduction. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
12/28/2006 | Committee |
12/28/2006 | Prefiled and ordered printed; offered 01/10/07 071884276 |
12/28/2006 | Referred to Committee on Finance |
01/10/2007 | Assigned Finance sub: #2 (Purkey) |
01/26/2007 | Impact statement from TAX (HB1780) |