Roll-back taxes; locality to assess and collect for up to 15 years under value assessment program. (SB1043)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)

Progress

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

Description

Use value assessment; roll-back taxes. Allows counties, cities, and towns to assess and collect roll-back taxes for up to 15 years under a use value assessment program if all roll-back taxes, interest, and penalty are promptly deposited into a special fund and used to fund the locality's purchase of development rights program. Amends § 58.1-3237, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/13/2009Prefiled and ordered printed; offered 01/14/09 096729232
01/13/2009Referred to Committee on Finance
01/17/2009Impact statement from TAX (SB1043)
02/11/2009Passed by indefinitely in Finance (16-Y 0-N) (see vote tally)