Real property taxes; rate of increase. (SB620)
Introduced By
Sen. John Cosgrove (R-Chesapeake) with support from co-patron Sen. Frank Ruff (R-Clarksville)
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 »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/13/2022 | Presented and ordered printed 22104159D |
01/13/2022 | Referred to Committee on Finance and Appropriations |
01/21/2022 | Impact statement from TAX (SB620) |
02/01/2022 | Senate committee, floor amendments and substitutes offered |
02/01/2022 | Passed by indefinitely in Finance and Appropriations (12-Y 4-N) (see vote tally) |