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 see the localities rushing to implement this, even Norfolk, which supports the homestead exemption and has made its passage a part of its legislative agenda. I see it as an additional tool, one that the localities will have in their back pockets should the need arise.
As for the General Assembly, the Senate will have to pass the House versions of the constitutional amendment and voter referendum since the only Senate constitutional amendment bill, SB9, is stuck in Senate Finance.
The remaining bills:
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. Died in committee.
- 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. Died in committee.
Other:
- 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. Died in committee.
- HB698– (BaCote) – increases income and net worth eligibility for tax relief for the elderly and disabled in Newport News. Passed the House.
- HB927 – (Nixon) – requires localities to fix tax rate 30 days prior to approval of budget. Died in committee.
- HB1036 – (Frederick) – requires localities to fix tax rate 30 days prior to approval of budget. Died in committee.
- HB1045 – (Watts) – exempts up to 20% from taxation; contingent upon passage of amendment. In HP&E Constitutional subcommittee. Died in committee.
- HB1118 -(P Miller) – exempts up to 20% from taxation; contingent upon passage of amendment. In HP&E Constitutional subcommittee. Died in committee.
- HB1503 – (Loupassi) – increases income eligibility for tax relief for the elderly and disabled in certain localities. Passed the House.
- SB496 – (Northam) – exempts up to 20% from taxation; contingent upon passage of amendment. Passed the Senate.
VIVIAN J. PAIGE | All Politics is Local 
Quite an EXCELLENT BLOG – especially on the status of the GA Bills!
Congrats!
In fact.. this BLOG is more up to date that the Va site and the Sunlight site.
why is that?
never mind.. thank you for keeping us up to date..
LarryG
Thanks, Larry.
I concur with Larry’s expression of thanks. The loyal opposition also appreciates the time and effort you put into this blog. You provide a great forum for information dissemination and discussion.
After that (well deserved) buttering-up, I am hoping you can answer a question — is the state school funding formula dependent on localities’ real estate tax revenues?
Mouse – I don’t know how that formula works, but I suspect it is not a factor in the state’s funding formula only because it varies so much from one area to the next.