Virginia Senate Bill 783 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 18 2008 - 25% progression, died in chamber
Action: 2008-01-29 - Senate: Continued to 2009 in Finance (16-Y 0-N)

Tax rates. Requires each locality to fix tax rates for an ensuing year at least 30 days prior to approval of the budget for the ensuing year, with separate public notices and separate public hearings. The bill also requires each locality to lower its real estate tax rate for the forthcoming tax year to produce no more than the previous year's real property tax levies when any annual assessment, biennial assessment, or general reassessment of real property by the locality would result in an increase in the total real property tax levied. The locality may increase the rate above the reduced rate after a public hearing held no sooner than 30 days after the rate reduction. The bill has a delayed effective date of January 1, 2009.

Tax rates; locality to fix at least 30 days prior to approval of budget for ensuing year.

Sen. Stephen Martin [R]

Date	Chamber	Action
2008-01-29		Senate: Continued to 2009 in Finance (16-Y 0-N)
2008-01-18		Senate: Referred to Committee on Finance
2008-01-18		Senate: Presented and ordered printed 089866268

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+SB783