HB1446 - Real property tax; assessment of real property used for affordable housing.
Virginia - 2025 Regular Session
Introduced byCarrie Emerson Coyner, Chris S. Runion, Rae C. Cousins
Last updated 9 months ago
3 Co-Sponsors
Real property tax; assessment of real property used for affordable housing. Requires the duly authorized real estate assessor of a locality to appraise affordable rental housing in accordance with the income approach, as described by the bill. The bill provides that, should the duly authorized real estate assessor fail to follow generally accepted appraisal practices, the assessment will not be entitled to a presumption of correctness, and if the owner then successfully appeals such assessment, the locality shall reimburse the owner for attorney fees and costs incurred.
STATUS
Introduced
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