Bill > HB175

This bill, effective for tax years beginning on or after January 1, 2026, allows local governments to grant a complete exemption from real property taxes, regardless of the property's value, to surviving spouses of members of the Armed Forces who died in the line of duty. Currently, such an exemption is limited to properties with assessed values not exceeding the average assessed value of single-family residential properties in the locality. The bill clarifies that "line of duty" includes deaths resulting from suicide, and the exemption applies to the surviving spouse's principal residence, even if they move to a new primary residence. The exemption can also extend to the land on which the dwelling is situated, up to one acre, and certain other real property improvements. The bill also specifies how the exemption is prorated if the property is jointly owned or held in trust.

Budget and Finance

https://lis.virginia.gov/bill-details/20261/HB175