HB2618: Real estate tax; localities to tax certain energy-efficient buildings.

HOUSE BILL NO. 2618
Offered January 10, 2007
Prefiled January 10, 2007
A BILL to amend the Code of Virginia by adding a section numbered § 58.1-3221.2, relating to classification of real property for tax purposes.
Patron-- Fralin

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered § 58.1-3221.2 as follows:

§ 58.1-3221.2. Classification of certain energy-efficient buildings for tax purposes.

Energy-efficient buildings, not including the real estate or land on which they are located, are hereby declared to be a separate class of property and shall constitute a classification for local taxation separate from other classifications of real property. The governing body of any county, city, or town may, by ordinance, levy a tax on the value of such buildings at a different rate from that of tax levied on other real property. The rate of tax imposed by any county, city, or town on such buildings shall not exceed that applicable to the general class of real property.

For purposes of this section, an energy-efficient building is any building that has received a rating of "certified" or better by the U.S. Green Building Council pursuant to the Leadership in Energy and Environmental Design Green Building Rating System.