# Virginia HB68: Real property; effect on rate when assessment results in tax increase, consideration of inflation.

Virginia HB68, Real property; effect on rate when assessment results in tax increase, consideration of inflation., is a 2026 Regular Session House bill sponsored by Joseph P. McNamara (Republican); status in committee, last action 2026-01-28 (Continued to 2027 in Finance) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-HB68-2026
- As of: 2026-10-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia HB68
- State: Virginia
- Session: 2026 Regular Session
- Title: Real property; effect on rate when assessment results in tax increase, consideration of inflation.
- Status: in committee
- Chamber: House
- Introduced: 2025-12-30
- Last action: 2026-01-28, Continued to 2027 in Finance
- Sponsor: Joseph P. McNamara (Republican)
- Cosponsors: 0
- Subjects: Subcommittee #2
- Touches household money: no
- Roll calls: 2 (0 yes, 0 no in all)
- Economic provisions PRIA read: 0

## Summary

Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Joseph P. McNamara (Republican), House

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-01-28 | House | Continued to 2027 in Finance | pass | 0 | 0 |   |
| 2026-01-27 | House | Subcommittee recommends continuing to 2027 (Voice Vote) | pass | 0 | 0 |   |

## Actions (8)

- 2026-01-28: Continued to 2027 in Finance (House)
- 2026-01-27: House subcommittee offered (House)
- 2026-01-27: House subcommittee offered (House)
- 2026-01-27: Subcommittee recommends continuing to 2027 (Voice Vote) (House)
- 2026-01-18: Fiscal Impact statement From TAX (1/18/2026 4:49 pm) (House)
- 2026-01-16: Assigned HFIN sub: Subcommittee #2 (House)
- 2025-12-30: Referred to Committee on Finance (House)
- 2025-12-30: Prefiled and ordered printed; Offered 01-14-2026 26101665D (House)

## Bill text

- Substitute, 2026-01-27: [HTML](https://lis.blob.core.windows.net/files/1098501.HTML), [PDF](https://lis.blob.core.windows.net/files/1098500.PDF)
- Introduced, 2025-12-30: [HTML](https://lis.blob.core.windows.net/files/1082239.HTML), [PDF](https://lis.blob.core.windows.net/files/1082238.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1098501.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1098500.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1082239.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1082238.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
- [Virginia state hub](https://policyrisk.com/states/virginia)
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Source: PRIA, https://policyrisk.com/state-bill/VA-HB68-2026 (as of 2026-10-11).