VirginiaHB13582026 Regular SessionHouseWALLET

Real property tax; special assessment on basis of use, notice requirements.

Sponsored By: Chris S. Runion (Republican)

Became Law

Summary

Real property tax; special assessment for land use; notice requirements; civil penalty. Establishes notice requirements for the sale of real estate that is valued, assessed, and taxed by a locality under a special assessment on the basis of use. The bill directs the Department of Taxation to create a written notice that may be provided to the purchaser of real estate in a land use program. The notice must include disclosures regarding the special classification of the real estate and liability for roll-back taxes if a change in use occurs. The bill also requires settlement agents to provide this written notice to purchasers of real estate in a land use program and to obtain the purchaser's written acknowledgement of receipt of the notice. The willful failure of a settlement agent to provide the notice and obtain the written acknowledgement will subject the settlement agent to a civil penalty in an amount not exceeding $250. The bill directs the Real Estate Board to include in the residential property disclosure statement on its website a statement that the owner makes no representations or warranties with respect to whether the property is located in a locality that has adopted a land-use plan that may provide use value assessment and taxation for certain real estate and that advises purchasers to exercise due diligence to determine whether the property may be subject to roll-back taxes and interest for taxation on the basis of a use assessment and the liability for additional taxes and penalties that may attach if a change in use occurs. Finally, the bill has a delayed effective date of January 1, 2027. This bill is identical to SB 649.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Buyer notice for land-use taxed property

Beginning January 1, 2027, settlement agents must warn buyers when a property is taxed under a land-use (use-value) program. They must give the state notice before closing, get your signed receipt at or before closing, and keep it for five years. The notice explains possible rollback taxes and interest if the land use or zoning changes, and tells you to contact the local commissioner or assessor. Willful failures can be fined up to $250. Missing notice does not change your tax bill or the assessment and does not create a right to sue.

Standard home sale and flood disclosures

Beginning January 1, 2027, home sellers must give buyers the state residential property disclosure form. The form flags key risks and costs, like flood risk and possible land-use rollback taxes. The Real Estate Board also posts a flood risk form online. It explains flood zones, how lenders decide if flood insurance is required, map updates, and where to check your risk.

Sponsors & Cosponsors

Sponsor

  • Chris S. Runion

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 221 • No: 0

Senate vote 2/27/2026

Passed Senate Block Vote

Yes: 37 • No: 0

Senate vote 2/26/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote 2/26/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/25/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

House vote 2/10/2026

Read third time and passed House Block Vote

Yes: 98 • No: 0

House vote 2/4/2026

Reported from Finance with substitute

Yes: 22 • No: 0

House vote 2/3/2026

Subcommittee recommends reporting with substitute

Yes: 10 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0308)

    4/6/2026Governor
  2. Approved by Governor-Chapter 308 (effective 7/1/2026)

    4/6/2026Governor
  3. Fiscal Impact statement From TAX (3/12/2026 9:03 am)

    3/12/2026House
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/10/2026Governor
  5. Enrolled Bill communicated to Governor on March 10, 2026

    3/10/2026House
  6. Bill text as passed House and Senate (HB1358ER)

    3/4/2026House
  7. Enrolled

    3/4/2026House
  8. Signed by President

    3/4/2026Senate
  9. Signed by Speaker

    3/4/2026House
  10. Passed Senate Block Vote (37-Y 0-N 0-A)

    2/27/2026Senate
  11. Read third time

    2/27/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    2/26/2026Senate
  13. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    2/26/2026Senate
  14. Rules suspended

    2/26/2026Senate
  15. Reported from Finance and Appropriations (14-Y 0-N)

    2/25/2026Senate
  16. Fiscal Impact statement From TAX (2/18/2026 6:29 pm)

    2/18/2026House
  17. Referred to Committee on Finance and Appropriations

    2/11/2026Senate
  18. Constitutional reading dispensed (on 1st reading)

    2/11/2026Senate
  19. Read third time and passed House Block Vote (98-Y 0-N 0-A)

    2/10/2026House
  20. Engrossed by House - committee substitute

    2/9/2026House
  21. committee substitute agreed to

    2/9/2026House
  22. Read second time

    2/9/2026House
  23. Read first time

    2/6/2026House
  24. Committee substitute printed 26106641D-H1

    2/4/2026House
  25. Reported from Finance with substitute (22-Y 0-N)

    2/4/2026House

Bill Text

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