WeVote
Log In

Bill

Bill

HJ 40

Land value; DHCD to study tax implications of local governing bodies implementing a tax.

2025 Regular Session Introduced by Jennifer Boysko and 1 co-sponsor

HJ 40 - Land Value Tax Study OverviewBill Number: HJ 40 Title: Land value; DHCD to study tax implications of local governing bodies implementing a tax. Status: Left in Rules Int

Left in Rules
0
WeVote Research Nonpartisan
Bill Summary · HJ 40

HJ 40 - Land Value Tax Study

Overview

Bill Number: HJ 40
Title: Land value; DHCD to study tax implications of local governing bodies implementing a tax.
Status: Left in Rules
Introduced: March 05, 2025

Purpose and Intent

This joint resolution directs the Virginia Department of Housing and Community Development (DHCD) to conduct a comprehensive study on the potential impacts of local governments implementing a land value tax. The study aims to analyze the tax implications, economic effects, and practical considerations of this alternative approach to property taxation.

Key Provisions

  • DHCD shall examine the feasibility and impacts of local jurisdictions adopting a land value tax, which would tax the unimproved value of land separately from the value of buildings and other improvements.
  • The study shall consider the potential effects on local government revenues, economic development, housing affordability, and other relevant factors.
  • DHCD must gather input from local governments, planning district commissions, and other stakeholders throughout the study process.
  • A final report with findings and recommendations shall be submitted to the General Assembly by November 1, 2026.

Affected Parties and Impacts

  • Local governments in Virginia would be the primary affected parties, as they would have the option to implement a land value tax if the study finds it viable.
  • Homeowners, businesses, and other property owners could see changes in their tax burdens depending on the land-to-improvement value ratio of their properties.
  • The study aims to assess how a land value tax could impact economic development, housing affordability, and other community-level outcomes.

Procedural and Timeline Considerations

This joint resolution was introduced in the 2025 session of the Virginia General Assembly and has been left in the Rules Committee, meaning it has not yet been scheduled for a full floor vote. If passed, the DHCD study would need to be completed by November 1, 2026, after which the General Assembly would consider any potential legislative changes to enable local land value taxation.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.