Bill
Bill > SB816
summary
Introduced
12/30/2024
12/30/2024
In Committee
02/10/2025
02/10/2025
Crossed Over
01/28/2025
01/28/2025
Passed
02/18/2025
02/18/2025
Dead
Signed/Enacted/Adopted
03/24/2025
03/24/2025
Introduced Session
2025 Regular Session
Bill Summary
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. 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 HB 2029.
AI Summary
This bill modifies the local real property tax exemption and deferral program for elderly and disabled individuals in Virginia by introducing several key provisions. The bill allows localities to require qualifying individuals to address any previously incurred delinquent taxes through payment in full, entering into an installment agreement (not exceeding 72 months), submitting an offer in compromise with the treasurer, or a combination of these methods. The legislation also expands notification requirements, mandating that localities include program information in tax bills, assessment change notices, and on their official websites. Additionally, the bill provides localities with more flexibility in granting tax exemptions by allowing prorated exemptions for the portion of the taxable year during which a taxpayer qualifies for the exemption, even if they have not yet filed an application. This means that eligible individuals who meet the age (65 years or older) or disability criteria can receive partial tax relief for the period they qualify, even if they apply later in the tax year. The bill aims to make the tax exemption process more accessible and adaptable for elderly and disabled property owners by providing clearer guidelines and more lenient application processes.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Acts of Assembly Chapter text (CHAP0536) (on 03/24/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20251/SB816 |
| BillText | https://lis.virginia.gov/bill-details/20251/SB816/text/CHAP0536 |
| BillText | https://lis.virginia.gov/bill-details/20251/SB816/text/SB816ER |
| Fiscal Note/Analysis - Impact statement from TAX (SB816) | https://lis.blob.core.windows.net/files/1058275.PDF |
| Fiscal Note/Analysis - Impact statement from TAX (SB816) | https://lis.blob.core.windows.net/files/1042476.PDF |
| BillText | https://lis.virginia.gov/bill-details/20251/SB816/text/SB816S1 |
| BillText | https://lis.virginia.gov/bill-details/20251/SB816/text/SB816SC1 |
| Fiscal Note/Analysis - Impact statement from TAX (SB816) | https://lis.blob.core.windows.net/files/1018096.PDF |
| BillText | https://lis.virginia.gov/bill-details/20251/SB816/text/SB816 |
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