Real property taxes; rate of increase. (HB1010)

Introduced By

Tara Durant (R-Fredericksburg) with support from co-patron Del. Kathy Byron (R-Lynchburg)

Progress

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

Description

Real property taxes; rate of increase. Requires the governing body of a locality to hold a referendum before making most increases in their real property tax rate. Under current law, the governing body of a locality is required to limit their real property tax rate to a rate that would collect no more than 101 percent of the amount of real property taxes collected for the previous year. Increases above this rate may only be imposed if the locality holds a public meeting. The bill replaces the public meeting requirement with a requirement that any such increase be approved in a referendum. Read the Bill »

Status

01/12/2022: Awaiting a Vote in the Finance Committee

History

DateAction
01/12/2022Committee
01/12/2022Prefiled and ordered printed; offered 01/12/22 22103864D
01/12/2022Referred to Committee on Finance
01/24/2022Impact statement from TAX (HB1010)

Comments

Michael Albin writes:

This is an outstanding proposal which, if enacted into law, would relive taxpayers of excessive property tax exploitation by local governments. I live in FFX County where imposts on my 60-year-old suburban home have risen much faster than inflation or my retirement income. Thanks for proposing it.
Michael Albin
FFX County Taxpayers Alliance.

Bill Peabody writes:

A referendum is much more democratic than a posting in some dead newspaper.

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