Constitutional amendment; assessment of real property for tax purposes (first reference). (SJ60)
Introduced By
Sen. John Miller (D-Newport News)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
Description
Constitutional amendment (first resolution); assessment of property for tax purposes. Provides that tax assessments made by any county, city, or town of real property used by its owners solely for single family residential purposes may, by ordinance adopted by the local governing body, be reduced on an annual basis in an amount up to the first $100,000 of the assessed value, provided that such property has been the primary residence of its owners for at least five years. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/08/2008 | Prefiled and ordered printed; offered 01/09/08 087653275 |
| 01/08/2008 | Referred to Committee on Privileges and Elections |
| 01/22/2008 | Continued to 2009 in Privileges and Elections (14-Y 0-N) (see vote tally) |
Comments
This is a long overdue proposal, and one which needs to be supported. Sen Miller is to be commended for recognizing the adverse and substantial impact that property tax increases continue to have on Virginia's citizenry.
Does this mean a person with a home assessed at $150,000 could end up paying taxes on only $50,000?
How is that fair to a person paying taxes on a $400,000 home?