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2007 SESSION

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HB 2127 Real property; requires localities to provide individual notice to each taxpayer of certain rates.

Introduced by: Timothy D. Hugo | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Real property tax rates; notice.  Requires localities to provide individual notice to each real estate taxpayer of certain proposed tax rates. The notice is triggered in any year in which any annual assessment, biennial assessment, or general reassessment at the current rate would result in an increase of one percent or more in the total real property tax revenue in the following year, and the locality's new rate derived from its new proposed budget would yield in the forthcoming year more than 101 percent of the total real estate tax revenue received in the prior year. The individual notice shall include the property owner's previous year's real property tax levy, the real property tax levy at the derived rate.


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