Real estate tax; requires each locality to lower its rate for forthcoming tax year. (HB1780)

Introduced By

Sen. John Cosgrove (R-Chesapeake)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Failed


12/28/2006Prefiled and ordered printed; offered 01/10/07 071884276
12/28/2006Referred to Committee on Finance
01/10/2007Assigned Finance sub: #2 (Purkey)
01/26/2007Impact statement from TAX (HB1780)