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2023 SESSION

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HB 1749 Real property taxes; rate of increase procedure.

Introduced by: Wendell S. Walker | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Real property taxes; rate of increase procedure. Provides that a governing body of a locality may increase the real property tax rate (i) by an amount lower than three percent through a public hearing and a majority vote of the governing body; (ii) by an amount of three percent or more, but lower than five percent, through a public hearing and a two-thirds majority vote of the governing body; and (iii) by an amount of five percent or more through holding a referendum. The bill provides that the governing body of a locality may not hold a public hearing for a proposed rate increase on the same day as the annual budget hearing. Under current law, the governing body of a locality is required to limit the 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, and increases above this rate may only be imposed if the locality holds a public hearing.


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