VirginiaReal property tax; exemption for elderly and disabled individuals.
What it does
Real property tax; exemption for elderly and disabled individuals. Revises various provisions of the local real property tax exemption and deferral program for elderly and disabled individuals. The bill allows a locality to require that an individual (i) pay all delinquent taxes, penalties, and interest assessed by the locality and incurred prior to becoming eligible for an exemption or deferral; (ii) enter into an installment agreement with the locality for the payment of all such delinquent amounts in installments over a period that is reasonable under the circumstances, but that in no event shall exceed 72 months; (iii) submit and obtain the treasurer's agreement to an offer in compromise with respect to all amounts of delinquent taxes, penalties, and interest; or (iv) carry out a combination thereof.
More detail
Additionally, the bill provides that notice of the terms and conditions of the exemption and deferral program may be included in any notice of change in assessment and that the treasurer shall post such information on the locality's website. Finally, the bill allows a locality to provide a prorated exemption or deferral for the portion of the taxable year during which the taxpayer would have qualified for such exemption or deferral but had not yet filed an application. This bill is identical to SB 816.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Mar 24Acts of Assembly Chapter text (CHAP0522)Latest
- Mar 24Approved by Governor Glenn Youngkin-Chapter 522 (Effective 07/01/25)Became Law
- Feb 18Governor's Action Deadline 11:59 p.m., March 24, 2025To Governor
- Feb 18Enrolled Bill communicated to Governor on February 18, 2025Minor
- Feb 15Impact statement from TAX (HB2029)
- Feb 13Signed by PresidentMajor
- Feb 10Signed by SpeakerMajor
- Feb 10Bill text as passed House and Senate (HB2029ER)Major
- Feb 10EnrolledMinor
- Feb 7Passed Senate (39-Y 0-N)Passed Senate
- Vote recorded Passed Senate (39-Y 0-N). Result: pass.Upper
- Feb 7Read third timeMinor
- Feb 6Passed by for the day
- Vote recorded Constitutional reading dispensed (on 2nd reading) (40-Y 0-N). Result: pass.Upper
- Feb 6Constitutional reading dispensed (on 2nd reading) (40-Y 0-N)
- Feb 6Rules suspended
- Feb 5Reported from Finance and Appropriations (12-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations (12-Y 0-N). Result: pass.Upper
- Feb 3Impact statement from TAX (HB2029)
- Jan 29Referred to Committee on Finance and AppropriationsMinor
- Jan 29Constitutional reading dispensed (on 1st reading)
- Jan 28Read third time and passed House (94-Y 3-N)Passed House
- Vote recorded Read third time and passed House (94-Y 3-N). Result: pass.Lower
- Jan 27Engrossed by House - committee substituteMajor
- Jan 27Finance Substitute agreed to
- Jan 27Read second timeMinor
- Jan 24Read first timeMinor
- Jan 22Committee substitute printed 25105713D-H1Major
- Vote recorded Reported from Finance with substitute (17-Y 5-N). Result: pass.Lower
- Jan 22Reported from Finance with substitute (17-Y 5-N)Minor
- Jan 20Subcommittee recommends reporting with amendment(s) (5-Y 3-N)
- Vote recorded Subcommittee recommends reporting with amendment(s) (5-Y 3-N). Result: pass.Lower
- Jan 17Assigned Finance sub: Subcommittee #1Minor
- Jan 14Impact statement from TAX (HB2029)
- Jan 7Referred to Committee on FinanceMinor
- Jan 7Prefiled and ordered printed; Offered 01-13-2025 25104305DIntroduced