Real estate tax; exemptions and deferrals for certain residential or farm property. (HB1045)

Introduced By

Del. Vivian Watts (D-Annandale)

Progress

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

Description

Real property tax exemptions and deferrals for certain residential or farm property. Authorizes local governing bodies to exempt, partially exempt, or defer the taxation of real property of up to 20 percent of the fair market value of up to one acre of real property that is residential or farm property designed for continuous habitation and occupied as the primary dwelling of the individual owners. The maximum amount of the exemption must be the same for all such properties within the locality, and the maximum dollar amount of the exemption shall not exceed 20 percent of the median price for such properties within the locality. The bill is contingent on passage of a constitutional amendment authorizing the exemption. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2008Committee
01/09/2008Prefiled and ordered printed; offered 01/09/08 087650784
01/09/2008Referred to Committee on Privileges and Elections
01/15/2008Assigned P & E sub: Constitutional
01/18/2008Impact statement from TAX (HB1045)
02/12/2008Left in Privileges and Elections