# 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 2027 Regular Session House bill sponsored by Joseph P. McNamara (Republican); status in committee, last action 2026-07-21 (Continued from last session) (as of 2026-10-11).

- Canonical: https://policyrisk.com/state-bill/VA-HB68-2027
- 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: 2027 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: 2026-07-21, Continued from last session
- Sponsor: Joseph P. McNamara (Republican)
- Cosponsors: 0
- Subjects: Subcommittee #2
- Touches household money: no
- 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

## Actions (9)

- 2026-07-21: Continued from last session (House)
- 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 2028 (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/1228727.HTML), [PDF](https://lis.blob.core.windows.net/files/1228726.PDF)
- Introduced, 2025-12-30: [HTML](https://lis.blob.core.windows.net/files/1231498.HTML), [PDF](https://lis.blob.core.windows.net/files/1231497.PDF)

## Related bills

- SB844: Licensed clinical psychologists; prescriptive authority; report. (in committee)
- HB1535: Individuals with developmental or intellectual disabilities; admissibility of statements. (introduced)
- HB1534: School service providers; deletion of student and family personal information. (introduced)
- SB843: Data centers; state permitting, local approval, moratorium, sunset. (in committee)
- SB842: High school student athletes; eligibility, enrollment. (in committee)
- SB840: Corrections, Director of the Department of; placement of inmates, Red Onion State Prison. (in committee)

## Sources
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1228727.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1228726.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1231498.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1231497.PDF)

## Related
- [SB844: Licensed clinical psychologists; prescriptive authority; report.](https://policyrisk.com/state-bill/VA-SB844-2027)
- [HB1535: Individuals with developmental or intellectual disabilities; admissibility of s…](https://policyrisk.com/state-bill/VA-HB1535-2027)
- [HB1534: School service providers; deletion of student and family personal information.](https://policyrisk.com/state-bill/VA-HB1534-2027)
- [SB843: Data centers; state permitting, local approval, moratorium, sunset.](https://policyrisk.com/state-bill/VA-SB843-2027)
- [SB842: High school student athletes; eligibility, enrollment.](https://policyrisk.com/state-bill/VA-SB842-2027)
- [SB840: Corrections, Director of the Department of; placement of inmates, Red Onion Sta…](https://policyrisk.com/state-bill/VA-SB840-2027)
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Source: PRIA, https://policyrisk.com/state-bill/VA-HB68-2027 (as of 2026-10-11).