Real property tax; partial exemption for certain commercial and industrial structures.
Reduces from 20 years to 15 years the minimum age of a structure in a technology zone that is rehabilitated for commercial use that qualifies the rehabilitated structure for a partial exemption from real property taxes. Under current law, a 15-year age minimum applies only to structures located in an enterprise zone designated by the Commonwealth, and a 20-year age minimum applies in all other situations. The bill contains technical amendments.
Virginia HB 1455 (2017) — Real property tax; partial exemption for certain commercial and industrial structures.
Reduces from 20 years to 15 years the minimum age of a structure in a technology zone that is rehabilitated for commercial use that qualifies the rehabilitated structure for a partial exemption from real property taxes. Under current law, a 15-year age minimum applies only to structures located in an enterprise zone designated by the Commonwealth, and a 20-year age minimum applies in all other situations. The bill contains technical amendments.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Governor: Acts of Assembly Chapter text (CHAP0024) (committee substitute) — source
House: Bill text as passed House and Senate (HB1455ER) (committee substitute) — source