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2008 SESSION

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HB 1123 Real estate and personal property taxes; applied to property of public service corporations, etc.

Introduced by: S. Chris Jones | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Property tax; public service corporations, and electric suppliers.  Provides that the additional real property tax authorized to be imposed on commercial property by the localities in the Hampton Roads Transportation Authority shall not be imposed on property of a public service corporation or electric supplier unless a final certificate of occupancy for a commercial or industrial use has been issued and remains in effect.

SUMMARY AS PASSED HOUSE:

Property tax; public service corporations, and electric suppliers.  Provides that the additional real property tax authorized to be imposed on commercial property by the localities in the Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority shall not be imposed on property of a public service corporation or electric supplier unless a final certificate of occupancy for a commercial or industrial use has been issued and remains in effect.

SUMMARY AS INTRODUCED:

Real and personal property tax; public service corporations.  Clarifies that the tax rate to be applied to real and personal property of public service corporations is the locality's general real estate tax rate and does not include any other rate that localities are permitted to apply to certain energy-efficient buildings.