Real property tax valuation; fair market value shall be based on non-restricted uses. (HB31)

Introduced By

Del. Bob Marshall (R-Manassas)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Real property tax valuation; property's use restricted by law.  Prohibits attributing any value to any unlawful use of real property when determining fair market value Read the Bill »


Bill Has Failed


12/08/2011Prefiled and ordered printed; offered 01/11/12 12100442D
12/08/2011Referred to Committee on Finance
01/12/2012Assigned Finance sub: Subcommittee #1
01/14/2012Impact statement from TAX (HB31)
02/14/2012Left in Finance


VHC Admin writes:

The Virginia Housing Coalition opposes this bill. It could result in higher taxes on affordable rental housing based upon its valuation as "market rate" housing instead of rent / income restricted housing. This would raise rents for low income families or place a cost burden on the owner.

Michael writes:

There's no "could" when predicting if this will result in higher taxes.

My house would be worth a whole lot more if I could turn it into a gas station. How long do you think it will be before the City Council realizes this and begins taxing me as if I owned commercial property?