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2012 SESSION

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HB 1068 Real estate tax; commercial and industrial property in localities in Northern Virginia.

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

SUMMARY AS PASSED HOUSE:

Real property tax; commercial and industrial property in localities in Northern Virginia.  Extends the sunset date from June 30, 2013, to June 30, 2018, on the reduction in the tax rate for the special real property tax on commercial and industrial property in the localities encompassed by the Northern Virginia Transportation Authority from 25 cents ($0.25) per $100 of assessed value to 12.5 cents ($0.125) per $100 of assessed value.

SUMMARY AS INTRODUCED:

Real property tax; commercial and industrial property in localities in Northern Virginia.  Removes the sunset date (June 30, 2013) from the law that reduced the tax rate for the special real property tax on commercial and industrial property in the localities encompassed by the Northern Virginia Transportation Authority from 25 cents ($0.25) per $100 of assessed value to 12.5 cents ($0.125) per $100 of assessed value.