VA HB262 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 5 2024 - 25% progression, died in committee
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 5 2024 - 25% progression, died in committee
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Classification of land and improvements for tax purposes; localities. Reclassifies improvements to real property located in any locality as a separate class of real property and authorizes any locality to impose a real property tax on improvements to real property at a rate of tax that is different than, but does not exceed, the general real property rate and is not zero. Under current law, such classification is allowed only for the Cities of Fairfax, Poquoson, Richmond, and Roanoke and such authorization is limited to the Cities of Fairfax, Richmond, and Roanoke. Under current law and under the bill, the City of Poquoson remains authorized to impose a real property tax at a different rate than the tax imposed upon the land on which it is located that is not zero, but such rate may exceed the general real property rate. Classification of land and improvements for tax purposes; localities. Reclassifies improvements to real property located in any locality as a separate class of real property and authorizes any locality to impose a real property tax on improvements to real property at a rate of tax that is different than, but does not exceed, the general real property rate and is not zero. Under current law, such classification is allowed only for the Cities of Fairfax, Poquoson, Richmond, and Roanoke and such authorization is limited to the Cities of Fairfax, Richmond, and Roanoke. Under current law and under the bill, the City of Poquoson remains authorized to impose a real property tax at a different rate than the tax imposed upon the land on which it is located that is not zero, but such rate may exceed the general real property rate.
Title
Land and improvements; classification for tax purposes.
Sponsors
Roll Calls
2024-01-23 - House - House: Subcommittee recommends striking from docket (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2024-02-13 | House | Left in Finance |
2024-01-23 | House | Subcommittee recommends striking from docket (8-Y 0-N) |
2024-01-16 | House | Assigned Finance sub: Subcommittee #2 |
2024-01-05 | House | Referred to Committee on Finance |
2024-01-05 | House | Prefiled and ordered printed; offered 01/10/24 24101438D |