Recordation tax; authorizes localities to impose additional tax at rate equal to 1/10 of state rate. (HB1566)
Introduced By
Del. Bobby Orrock (R-Thornburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Local recordation tax. Authorizes localities to impose an additional recordation tax at a rate equal to one-tenth of the state recordation rate, if the tax is approved by referendum. The revenue from the tax shall be used solely to provide affordable shelter. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/04/2013 | Committee |
01/04/2013 | Prefiled and ordered printed; offered 01/09/13 13100893D |
01/04/2013 | Referred to Committee on Finance |
01/07/2013 | Impact statement from TAX (HB1566) |
01/14/2013 | Assigned Finance sub: #2 |
01/28/2013 | Subcommittee recommends laying on the table (9-Y 0-N) |
02/05/2013 | Left in Finance |
Comments
Were already over taxed to pay for worthless programs.
The Virginia housing Coalition supports the bill which gives localities the right to increase the recordation tax, if approved by referendum, in order to provide support for affordable housing. This bill gives local governments a tool to use in helping create affordable housing opportunities for the people who work in their communities. This not only reduces transportation burdens but improves the quality of life for working families.
This is an excellent bill that just provides authority for the citizens of a locality to determine how they will be taxed and for what purpose. Cities, like Alexandria, have become very expensive--too expensive for most lower-wage workers, such as teachers or retail clerks, to afford to live near where they work. Citizens should have the right to decide whether a tax increase is appropriate and needed in their locality. And affordable housing is an important issue for many of us who want to continue to live in vibrant communities with a diverse population.
Making sure that there is enough affordable housing in communities for the people that work there is good for everyone. Connecting this to recordation revenue makes sense -- we don't want our communities to become places where only the wealthy can afford to live. This bill gives communities the ability to decide for themselves what their housing future should look like.