SB957: Real estate tax rates; authorizes City of Poquoson to impose on improvements to real property.


SENATE BILL NO. 957
AMENDMENT IN THE NATURE OF A SUBSTITUTE
(Proposed by the Senate Committee on Finance
on January 19, 2011)
(Patron Prior to Substitute--Senator Miller, J.C.)
A BILL to amend and reenact § 58.1-3221.1 of the Code of Virginia, relating to classification of land and improvements for tax purposes in the City of Poquoson.

Be it enacted by the General Assembly of Virginia:

1.  That § 58.1-3221.1 of the Code of Virginia is amended and reenacted as follows:

§ 58.1-3221.1. Classification of land and improvements for tax purposes.

A. In the City Cities of Fairfax and the City of, Poquoson, and Roanoke improvements to real property are declared to be a separate class of property and shall constitute a separate classification for local taxation of real property.

B. The governing body of the City of Fairfax and the City of Roanoke, after giving public notice and an opportunity for the public to be heard in the manner provided in § 58.1-3007, may levy a tax on the property enumerated in subsection A at a different rate than the tax imposed upon the land on which it is located, provided that the rate of tax on the property described in subsection A shall not be zero and shall not exceed the rate of tax on the land on which it is located.

C. Nothing in this section shall be construed to permit the City of Fairfax, Poquoson, or the City of Roanoke to alter in any way its valuation of real property covered by this section.

D. The governing body of the City of Poquoson, after giving public notice and an opportunity for the public to be heard in the manner provided in § 58.1-3007, may levy a tax on the property enumerated in subsection A at a different rate than the tax imposed upon the land on which it is located, provided that the rate of tax on the property described in subsection A shall not be zero.

SENATE BILL NO. 957
Offered January 12, 2011
Prefiled January 11, 2011
A BILL to amend and reenact § 58.1-3221.1 of the Code of Virginia, relating to classification of land and improvements for tax purposes in the City of Poquoson.
Patron-- Miller, J.C.

Referred to Committee on Finance

Be it enacted by the General Assembly of Virginia:

1.  That § 58.1-3221.1 of the Code of Virginia is amended and reenacted as follows:

§ 58.1-3221.1. Classification of land and improvements for tax purposes.

A. In the City Cities of Fairfax and the City of, Poquoson, and Roanoke improvements to real property are declared to be a separate class of property and shall constitute a separate classification for local taxation of real property.

B. The governing body of the City Cities of Fairfax and the City of, Poquoson, and Roanoke, after giving public notice and an opportunity for the public to be heard in the manner provided in § 58.1-3007, may levy a tax on the property enumerated in subsection A at a different rate than the tax imposed upon the land on which it is located, provided that the rate of tax on the property described in subsection A shall not be zero and shall not exceed the rate of tax on the land on which it is located.

C. Nothing in this section shall be construed to permit the City of Fairfax, Poquoson, or the City of Roanoke to alter in any way its valuation of real property covered by this section.