VirginiaSB13122025 Regular SessionSenate

Real property tax; high exemption locality reimbursements.

Sponsored By: Jeremy S. McPike (Democratic)

Failed

Summary

Real property tax; high exemption locality reimbursements. Provides that in tax year 2025 and all tax years thereafter, a high exemption locality, defined in the bill, shall be reimbursed by the Commonwealth for 50 percent of the exemption value, also defined in the bill, multiplied by the 2022 effective real property tax rate in such locality.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jeremy S. McPike

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 7 • No: 6

Senate vote • 1/23/2025

Passed by indefinitely in Finance and Appropriations

Yes: 7 • No: 6

Actions Timeline

  1. Passed by indefinitely in Finance and Appropriations (7-Y 6-N)

    1/23/2025Senate
  2. Impact statement from TAX (SB1312)

    1/23/2025Senate
  3. Referred to Committee on Finance and Appropriations

    1/9/2025Senate
  4. Prefiled and ordered printed; Offered 01-08-2025 25102027D

    1/9/2025Senate

Bill Text

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