Thursday update (01/17): Real estate tax relief

Local, Norfolk, Politics, Real estate taxes, Virginia 3 Minutes

Weekly update of my legislative agenda issue.

If there is a topic that has generated more bills than real estate taxes, I haven’t seen it. (OK, maybe immigration 😉 ) In any event, I have limited my list of bills to those that provide real estate tax relief. There are others not on my list. Head over to Richmond Sunlight and look under “real estate” or “property tax.” You’ll see what I mean 😉

I’ve previously provided the meeting dates and times for the HP&E (House Privileges & Elections) and SP&E (Senate Privileges & Elections) committees so I won’t repeat them here. The HF (House Finance) committee meets Mondays at 8:30am and Wednesdays 1/2 hour after adjournment.

Constitutional amendments:

  • HJ3 – (Brink) – 20% homestead exemption (2nd reference). In HP&E Constitutional subcommittee.
  • HJ4 – (Albo) – 20% homestead exemption (2nd reference). In HP&E Constitutional subcommittee.
  • HJ56 – (P Miller) – 20% homestead exemption (2nd reference). In HP&E Constitutional subcommittee.
  • HJ121 – (Moran) – 20% homestead exemption (2nd reference). In HP&E Constitutional subcommittee.
  • SJ6 – (Whipple) – 20% homestead exemption (2nd reference). In SP&E committee.
  • HB6 – (Brink) – 20% homestead exemption – voter referendum in November 2008. In HP&E Constitutional subcommittee.
  • HB11 – (Albo) – 20% homestead exemption – voter referendum in November 2009. In HP&E Constitutional subcommittee.
  • HB272 – (P Miller) – 20% homestead exemption – voter referendum in November 2008. In HP&E Constitutional subcommittee.
  • SB9 – (Whipple) – 20% homestead exemption – voter referendum in November 2008. In SP&E committee.
  • HJ19 – (Frederick) – cap of 1% plus rate of inflation (1st reference). In HP&E committee.
  • SJ60 – (J Miller) – exempts up to $100,000 from tax (1st reference). In SP&E committee.
  • SJ73 – (Hanger) – gives localities ability to exempt part of real estate from taxation (1st reference). In SP&E committee.
  • HJ18 – (Lingamfelter) – exempts from real estate tax the principal residence of certain veterans (1st reference). In HP&E committee.
  • HJ38 – (O Ware) – exempts from real estate tax the principal residence of certain veterans (1st reference). In HP&E committee. Passed by for the day on 1/11/08.
  • SJ10 – (Reynolds) – exempts from real estate tax the principal residence of certain veterans (1st reference). In SP&E committee.

Real estate cap bills:

  • HB74 – (Purkey) – requires localities to lower tax rate to keep tax paid the same; locality may increase rate after public hearing. In HF subcommitte #1.
  • HB102 – (Albo) – total revenues from real estate taxes cannot exceed 105% of prior year’s revenues unless approved by 2/3 of local governing body. In HF subcommittee #1.

Other:

  • HB163 – (Sherwood) – permits localities to use projected income and financial worth for current year in granting real estate tax relief to elderly and disabled (instead of prior year’s actual) in certain circumstances. In HF subcommittee #1. On docket for 1/16.
  • HB215 – (Alexander) – permits localities to tax residential real estate at a lower rate than the general class of property and prohibits localities from raising the rate on the general class of property. In HF subcommittee #1.
  • HB270 – (P Miller) – increases income eligibility for tax relief for the elderly and disabled in certain localities. In HF subcommittee #1. On docket for 1/16.
  • HB698– (BaCote) – increases income and net worth eligibility for tax relief for the elderly and disabled in Newport News. In HF subcommittee #1. On docket for 1/16.
  • HB927 – (Nixon) – requires localities to fix tax rate 30 days prior to approval of budget. In HF subcommittee #1.
  • HB1036 – (Frederick) – requires localities to fix tax rate 30 days prior to approval of budget. In HF subcommittee #1.
  • HB1045 – (Watts) – exempts up to 20% from taxation; contingent upon passage of amendment. In HP&E Constitutional subcommittee.
  • HB1274 – (Spruill) – increases income eligibility for tax relief for the elderly and disabled in certain localities. In HF subcommittee #1. On docket for 1/16.
  • HB1275 – (Spruill) – allows localities to grant higher percentage of tax relief to the elderly. In HF subcommittee #1. On docket for 1/16.
  • SB10 – (Northam) – exempts up to 20% from taxation; contingent upon passage of amendment. In SP&E committee.
  • SB203 – (Quayle) – increases income eligibility for tax relief for the elderly and disabled in certain localities. Reported out of Senate Finance committee.
  • SB 283 – (J Miller) – increases income eligibility for tax relief for the elderly and disabled in Newport News. Reported out of Senate Finance.

Also, SJ81, offered by Sen. John Miller, proposes a JLARC study on the implications of an income tax credit for homeowners whose property taxes exceed a certain percentage of their income. This bill is in the Senate Rules committee.

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Note to Julian Walker of The Virginian Pilot – The freshman senator from Newport News is John Miller, not James Miller.

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