Real estate taxes
Norfolk City Council Budget Hearing
Wednesday, May 4, 2011 Granby High School 7101 Granby Street 6:00pm You can download the FY2012 Proposed Budget Here Hope to see you there! UPDATE by Vivian: in case you missed it when it aired live, you can view the entire informal session of council from Tuesday here.
Norfolk City Council: 4.26.11
By Tommy Smigiel Norfolk City Council has a light regular agenda this week, in preparation for the release of the 2012 Fiscal Year Budget on Tuesday. There are only five regular items on the agenda. On Monday morning, City Council members will get their first look at a budget that is $32 million slimmer than last year. On … Continue reading
Norfolk City Council: 2/15/11
By Tommy Smigiel The informal agenda offers some items of interest for our citizens this week. Presentation of the FY2010 Comprehensive Annual Financial Report and KPMG External Auditors FY2010 Independent Auditor’s Report Update on Mid-Town Office Tower Update on Real Estate Assessments Status Review of Light Rail Construction Will the KPMG Audit Report reveal anything interesting? Is there … Continue reading
Norfolk commercial properties underassessed
Duh! Not sure we needed a consultant to tell us this: … commercial properties in the city are underassessed by as much as 30 percent What is interesting is that the amount of real estate taxes not assessed cannot be quantified at this point: Commercial real estate provides a small percentage of the estimated $203 … Continue reading
Time to apply for Norfolk real estate tax relief
Applications are now being accepted for the Norfolk Real Estate Tax Relief program for seniors and/or the disabled. To qualify: You must be 65 years of age or totally and permanently disabled; You must live in the property to be exempted; Your combined income of owners and all relatives living in home cannot exceed $62,000 … Continue reading
Senate kills homestead exemption
The only bills left to provide tax relief for homeowners was killed today by the Senate. In a 21-19 vote, Senate Republicans, joined by Democrats Chuck Colgan and Phil Puckett, sent HJ4 and HB11 back to the Senate P&E committee. From the Senate Democratic Caucus press release: House Joint Resolution 4 passed the House by … Continue reading
Thursday update (02/21): Real estate tax relief
Weekly update of my legislative agenda issue. Only a few bills on real estate tax relief survived crossover. The Virginian Pilot this morning had a blurb about Ralph Northam’s SB496, which would have laid out how the homestead exemption was to be implemented. So while we are likely to get to vote on the homestead … Continue reading
Thursday update (02/14): Real estate tax relief
Weekly update of my legislative agenda issue. The Virginian Pilot editorial board took on the issue of the homestead exemption in a three-part series last weekend (1, 2, 3). Objections to this method of relief, which is not automatic and the localities will have to adopt, ring a bit hollow to me. Honestly, I don’t … Continue reading
Thursday update (01/31): Real estate tax relief
Weekly update of my legislative agenda issue. Wednesday’s local section in the Virginian Pilot included a headline about real estate tax increases in Norfolk. I knew this day was coming – and it was the main reason I left the Board for of review for Real Estate Assessments. When the sales information for real estate … Continue reading
Paula Miller on the homestead exemption
Here is my delegate, Paula Miller, talking about the homestead exemption, HB11. Great job, Del. Miller! Del. Bob Brink also weighed in. You can catch his video over at Assembly Access.
Thursday update (01/24): Real estate tax relief
Weekly update of my legislative agenda issue. I’ve updated the bills for the most recent information publicly available. Note that committee reports for the last few days are not yet available. There is a report from the Virginian Pilot which says that a Senate subcommittee approved a 20% homestead exemption bill; however, the report does … Continue reading
Bill highlight: O’Bannon’s HB602
I hope the assessors are paying attention to HB602, proposed by Del. John O’Bannon (R-73). Provides that when any assessment of real property is 20% greater than the previous assessment, in any appeal of the assessment to a board of equalization or circuit court, the burden of proof is on the commissioner of revenue or … Continue reading
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