Residential rental apartments; appeal of real property assessments, fair market value. (SB73)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Assessment of residential rental properties. Establishes criteria by which an assessor shall determine fair market value for real estate used in whole or in part as residential rental property as defined by ordinance or the locality. Criteria include actual gross income generated, losses due to vacancies, collection losses, and rent concessions as well as actual operating expenses and expenditures. Evidence as to fair market value presented by the property owner shall be considered by the real estate assessor in his property assessment. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/05/2012 | Prefiled and ordered printed with emergency clause; offered 01/11/12 12103414D |
01/05/2012 | Referred to Committee on Finance |
01/20/2012 | Impact statement from TAX (SB73) |
01/25/2012 | Reported from Finance with substitute (14-Y 0-N 1-A) (see vote tally) |
01/25/2012 | Committee substitute printed 12104695D-S1 |
01/26/2012 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
01/27/2012 | Read second time |
01/27/2012 | Reading of substitute waived |
01/27/2012 | Committee substitute agreed to 12104695D-S1 |
01/27/2012 | Engrossed by Senate - committee substitute SB73S1 |
01/30/2012 | Read third time and passed Senate (37-Y 3-N) (see vote tally) |
02/13/2012 | Placed on Calendar |
02/13/2012 | Read first time |
02/13/2012 | Referred to Committee on Finance |
02/13/2012 | Assigned Finance sub: #1 |
02/14/2012 | Impact statement from TAX (SB73S1) |
02/15/2012 | Subcommittee recommends reporting (10-Y 0-N) |
02/20/2012 | Reported from Finance with substitute (20-Y 0-N) (see vote tally) |
02/20/2012 | Committee substitute printed 12105397D-H1 |
02/21/2012 | Read second time |
02/22/2012 | Passed by for the day |
02/23/2012 | Read third time |
02/23/2012 | Committee substitute agreed to 12105397D-H1 |
02/23/2012 | Engrossed by House - committee substitute SB73H1 |
02/23/2012 | Passed House with substitute BLOCK VOTE (100-Y 0-N) |
02/23/2012 | VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally) |
02/27/2012 | House substitute agreed to by Senate (40-Y 0-N) (see vote tally) |
02/27/2012 | Title replaced 12105397D-H1 |
03/01/2012 | Enrolled |
03/01/2012 | Bill text as passed Senate and House (SB73ER) |
03/01/2012 | Impact statement from TAX (SB73ER) |
03/01/2012 | Signed by Speaker |
03/03/2012 | Signed by President |
04/09/2012 | G Approved by Governor-Chapter 707 (effective 4/9/12) |
04/09/2012 | G Acts of Assembly Chapter text (CHAP0707) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 4 minutes.