Bill Text: VA SB551 | 2012 | Regular Session | Chaptered
Bill Title: Real estate tax; counties may establish discount for early payment or payment in full.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2012-04-04 - Governor: Acts of Assembly Chapter text (CHAP0585) [SB551 Detail]
Download: Virginia-2012-SB551-Chaptered.html
|
Be it enacted by the General Assembly of Virginia: 1. That §§ 15.2-1104 and 15.2-1201.2 of the Code of Virginia are amended and reenacted as follows: § 15.2-1104. Taxes and assessments. A municipal corporation may raise annually by taxes and assessments on property, persons, and other subjects of taxation, which are not prohibited by law, such sums of money as in the judgment of the municipal corporation are necessary to pay the debts, defray the expenses, accomplish the purposes, and perform the functions of the municipal corporation, in such manner as the municipal corporation deems necessary or expedient. A municipal corporation may also establish by ordinance a discount for the early payment of any such taxes or assessments. For purposes of this section, "early payment" may include payment of real property taxes in full on or before the due date of such tax. § 15.2-1201.2. Discount for early payment of taxes. Counties may by ordinance establish a discount for the early payment of any tax or assessment imposed by the county. For purposes of this section, "early payment" may include payment of real property taxes in full on or before the due date of such tax. |
