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VA HB261
VA HB261Real property; tax classification of land and improvements in City of Newport News.
summary
Introduced
01/09/2026
01/09/2026
In Committee
01/09/2026
01/09/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Real property tax; classification of land and improvements; City of Newport News. Authorizes the City of Newport News to levy a tax on the improvements to real property at a different rate than the tax imposed upon the land on which it is located. The rate levied on the improvements to real property shall not be zero and shall not exceed the rate of tax on the land on which it is located.
AI Summary
This bill allows the City of Newport News to tax the improvements on real property, such as buildings and structures, at a different rate than the land itself. This means the city can set a specific tax rate for these improvements, but it cannot be zero and must not be higher than the tax rate applied to the land. This change is being made to existing law regarding how real property is classified and taxed locally, and it specifically adds Newport News to a list of cities that already have this authority.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Incorporated by Finance (HB282-Callsen) (Voice Vote) (on 01/21/2026)
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/20261/HB261 |
| Fiscal Note/Analysis - Fiscal Impact statement From TAX (1/18/2026 8:26 pm) | https://lis.blob.core.windows.net/files/1090058.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB261/text/HB261 |
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