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2010 SESSION

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HB 1301 Short-term rental property; local government may tax or may impose tax.

Introduced by: Matthew Lohr-Resigned 4/30 | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Local taxation of short-term rental property.  Classifies short-term rental property as a separate classification of merchants’ capital, and would authorize the governing body of any locality to tax short-term rental property under the merchants’ capital tax or under the short-term rental property tax, but not both. The bill also declares that short-term rental property does not constitute tangible personal property for purposes of local taxation.

SUMMARY AS INTRODUCED:

Short-term rental property tax.  Authorizes the governing body of any county, city, or town levying a short-term rental property tax to exempt from such tax any person engaged in the short-term rental business whose gross proceeds from all short-term rental property transactions entered into during the preceding year were not in excess of $25,000.