Virginia bill would let all localities tax land and buildings at different rates

RICHMOND, VA – A new proposal before the Virginia General Assembly would give every city and county in the Commonwealth the authority to tax land and improvements — such as buildings — at separate rates, expanding a system currently available only to a few localities.

House Bill 10, introduced by Delegate Joe McNamara and referred to the Committee on Finance, amends §58.1-3221.1 of the Code of Virginia to classify improvements to real property as a distinct category for taxation purposes in all localities, not just in the Cities of Fairfax, Poquoson, Richmond, and Roanoke....