Constitutional amendment; exempts certain homeowners from taxation (second reference). (SJ6)

Introduced By

Sen. Mary Margaret Whipple (D-Arlington) with support from co-patron Del. Al Eisenberg (D-Arlington)

Progress

Introduced
Passed Committee
Passed House
Passed Senate

Description

Constitutional amendment (second resolution); property exempt from taxation. Authorizes the General Assembly to enact legislation that will allow localities by ordinance to exempt from real property taxes, or defer real property taxes on, up to 20 percent of the value of residential or farm property that is the owner- occupant's primary dwelling and lived in continuously. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
11/28/2007Prefiled and ordered printed; offered 01/09/08 084307352
11/28/2007Referred to Committee on Privileges and Elections
01/29/2008Reported from Privileges and Elections (9-Y 3-N) (see vote tally)
01/29/2008Rereferred to Finance
02/07/2008Failed to report (defeated) in Finance (8-Y 8-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: HJ3, HJ4, HJ56 and HJ121.

Comments

Jim Duncan writes:

Why 20%?

robert legge writes:

20% is a nice round number, Jim. This bill looks hard to vote against. It will be of more help to areas with a lot of second homes. In urban areas it will probably hurt renters, if the landlords taxes go up. But in areas where land values have risen thanks to rich second home buyers, and the district's local composite index has risen, it seems fair to get some more money from them. But if there are few second homes, people should not think their taxes will drop 20%. If the county has less assessed value to deal with, they are going to raise the tax rate. But I still think I will support this one.

VA A., tracking this bill in Photosynthesis, notes:

Va Chamber of Commerce Opposes