VirginiaHB24492025 Regular SessionHouse

Real property tax; special assessment for land preservation.

Sponsored By: Michael J. Webert (Republican)

Failed

Summary

Real property tax; special assessment for land preservation. Allows a locality to provide for the use value assessment and taxation of qualifying leased real estate. Qualifying leased real estate is defined in the bill as real estate devoted to open-space use that is subject to an active lease with a lessor who is using the property for agricultural purposes. The taxpayer seeking to qualify for the different assessment of any such qualifying leased real estate must apply to the commissioner of the revenue and provide any documentation necessary to determine eligibility.

Subcommittee #1

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Michael J. Webert

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Left in Finance

    2/4/2025House
  2. Assigned Finance sub: Subcommittee #1

    1/24/2025House
  3. Impact statement from TAX (HB2449)

    1/23/2025House
  4. Referred to Committee on Finance

    1/8/2025House
  5. Prefiled and ordered printed; Offered 01-08-2025 25104186D

    1/8/2025House

Bill Text

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