Bill Text: VA HB191 | 2016 | Regular Session | Prefiled
Bill Title: Composite index of local ability-to-pay; use value of real estate in certain localities.
Spectrum: Strong Partisan Bill (Republican 10-1)
Status: (Introduced - Dead) 2016-02-10 - Tabled in Education by voice vote [HB191 Detail]
Download: Virginia-2016-HB191-Prefiled.html
|
16102974D Be it enacted by the General Assembly of Virginia: 1. That the Code of Virginia is amended by adding a section numbered 22.1-98.3 as follows: §22.1-98.3. Composite index of local ability-to-pay; use value of real estate in certain localities. For the purpose of determining the state and local shares of basic aid funding, the composite index of local ability-to-pay or "local composite index" shall utilize the use value of all applicable real estate: 1. Devoted to (i) agricultural use, (ii) horticultural use, (iii) forest use, and (iv) open-space use, as those terms are defined in §58.1-3230, in each locality that has adopted an ordinance pursuant to §58.1-3231 by which it assesses the value of such real estate for the purpose of local taxation pursuant to §58.1-3236; and 2. Used in agricultural and forestal production within (i) an agricultural district, a forestal district, or an agricultural and forestal district established pursuant to Chapter 43 (§15.2-4300 et seq.) of Title 15.2 or (ii) an agricultural and forestal district of local significance established pursuant to Chapter 44 (§15.2-4400 et seq.) of Title 15.2 in each locality that assesses the value of such real estate for the purpose of local taxation pursuant to §58.1-3236 regardless of whether it has adopted a local land-use plan or local ordinance pursuant to §58.1-3231. |
