VirginiaIncome tax, state; credit for surviving spouse's real property taxes.
What it does
Income tax; credit for surviving spouse's real property taxes. Provides, for taxable years 2026 through 2030, a nonrefundable income tax credit in an amount equal to a surviving spouse's qualifying portion of real property taxes, defined in the bill, for any qualifying residence, also defined in the bill. The bill defines "eligible veteran" as a veteran who had been determined by the U.S. Department of Veterans Affairs to have a 100 percent service-connected, permanent, and total disability.
More detail
The bill defines "surviving spouse" as the surviving spouse (i) of an eligible veteran; (ii) that would have been eligible for a real property tax exemption but for the eligible veteran's death having occurred prior to January 1, 2011; and (iii) who paid real property taxes on a qualifying residence during the taxable year for which the credit is claimed. The aggregate amount of credits allowable under the provisions of the bill shall not exceed $5 million per taxable year and shall be allocated by the Department of Taxation on a first-come, first-served basis.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 18Left in Committee AppropriationsLatest
- Feb 11Reported from Finance and referred to Appropriations (21-Y 0-N)Minor
- Vote recorded Reported from Finance. Result: pass.Lower
- Feb 6Assigned HFIN sub: Subcommittee #1Minor
- Jan 30Fiscal Impact statement From TAX (1/30/2026 7:28 pm)
- Jan 13Referred to Committee on FinanceMinor
- Jan 13Prefiled and ordered printed; Offered 01-14-2026 26105061DIntroduced