VirginiaReal property tax; special assessment on basis of use, notice requirements.
What it does
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.
More detail
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.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 6Acts of Assembly Chapter text (CHAP0309)Latest
- Apr 6Approved by Governor Abigail Spanberger-Chapter 309 (effective 1/1/2027)Became Law
- Mar 23Fiscal Impact statement From TAX (3/23/2026 10:20 am)
- Mar 10Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 10Enrolled Bill communicated to Governor on March 10, 2026Minor
- Feb 27Signed by PresidentMajor
- Feb 27Signed by SpeakerMajor
- Feb 27Bill text as passed Senate and House (SB649ER)Major
- Feb 27EnrolledMinor
- Feb 25House amendment agreed to by Senate (40-Y 0-N 0-A)Major
- Vote recorded Concur House Amendment R. Result: pass.Upper
- Feb 23Passed House with amendment (97-Y 0-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 23Engrossed by House as amended
- Feb 23committee amendment agreed toMajor
- Feb 23Read third timeMinor
- Feb 20Read second timeMinor
- Feb 18Reported from Finance with amendment(s) (21-Y 0-N)Minor
- Vote recorded Reported from Finance with amendment(s). Result: pass.Lower
- Feb 18House committee offered
- Feb 18Fiscal Impact statement From TAX (2/18/2026 7:43 am)
- Feb 4Referred to Committee on FinanceMinor
- Feb 4Read first timeMinor
- Feb 4Placed on Calendar
- Jan 30Read third time and passed Senate (38-Y 0-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Jan 29Engrossed by Senate - floor substitute
- Jan 29Engrossed by Senate Block Vote (Voice Vote)
- Jan 29Senator Obenshain Substitute agreed to
- Jan 29Reading of substitute waived (Voice Vote)
- Jan 29Floor offered Senator Obenshain Substitute
- Jan 29Read second timeMinor
- Jan 28Passed by for the day
- Vote recorded Constitutional reading dispensed R. Result: pass.Upper
- Jan 28Passed by for the day Block Vote (Voice Vote)
- Jan 28Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
- Jan 28Rules suspended
- Jan 27Reported from Finance and Appropriations (14-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations. Result: pass.Upper
- Jan 26Fiscal Impact statement From TAX (1/26/2026 10:34 pm)
- Jan 14Referred to Committee on Finance and AppropriationsMinor
- Jan 14Prefiled and ordered printed; Offered 01-14-2026 26104707DIntroduced