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1999 SESSION

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HB 2754 Special assessments; sliding scale and roll back taxes.

Introduced by: Robert D. Orrock, Sr. | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Special assessments; sliding scale and roll back taxes. Permits localities to establish a sliding scale tax rate which would lower tax rates for real estate subject to land-use taxation which is held for longer periods of time. The landowner and locality are required to execute and record a written agreement, for a term not exceeding 20 years. A change in use prior to the end of the agreed-upon holding period will result in a tax due from the date of the agreement at the highest tax rate for the year it ceases to be in a land-use program.


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