Bill Amendment: VA SB477 | 2024 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Blighted and derelict properties in certain localities; rate of tax.

Status: 2024-04-17 - Senate sustained Governor's veto [SB477 Detail]

Download: Virginia-2024-SB477-Governor_s_veto_explanation.html

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(SB477)

GOVERNOR'S VETO

 

Pursuant to Article V, Section 6, of the Constitution of Virginia, I veto Senate Bill 477, which pertains to property tax surcharges for fiscally distressed localities.

 

The localities contemplated by this bill already have the authority to levy a property tax surcharge on owners of blighted and derelict property. This bill would have allowed localities to increase this surcharge by 200%. Property taxes are consistently among Virginians’ largest annual expense, and this has been exacerbated due to rising housing prices and inflation. The General Assembly and local governments should be considering methods to bring property taxes under control rather than raising tax rates.

 

Accordingly, I veto this bill.