Bill Text: VA HB267 | 2022 | Regular Session | Chaptered
Bill Title: Taxes, local; surplus revenues.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2022-04-07 - Governor: Acts of Assembly Chapter text (CHAP0165) [HB267 Detail]
Download: Virginia-2022-HB267-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §15.2-2511.1 of the Code of Virginia is amended and reenacted as follows:
§15.2-2511.1. Return of local surplus funds.
Any locality may by ordinance develop a method for returning
surplus real or personal property tax revenues, or both, to
taxpayers who are assessed real property such taxes in any fiscal
year in which the locality reports a surplus. The locality may reduce a
taxpayer's refund by the amount of any taxes, penalties, and interest
that are due from such taxpayer, or any past-due taxes, penalties, and
interest that have been assessed within the appropriate period of limitations.