Property Tax Exemption for Improvements
Amends
Article X. Taxation and Finance
Section 6. Exempt property
Summary
This measure allows local governments to grant property tax exemptions to owners who improve or renovate their property.
Shall Section 6 of Article X of the Constitution of Virginia be amended to authorize the General Assembly to permit certain tax exemptions for property which has undergone substantial renovation, rehabilitation or replacement necessitated by age and use?
Legislation
- First resolution – HJR177 and SJR15 – 1977
- Second resolution – HJR15 – 1978
- Referendum legislation – H141 – 1978
Article X. Taxation and Finance
Section 6. Exempt property
(a) Except as otherwise provided in this Constitution, the following property and no other shall be exempt from taxation, State and local, including inheritance taxes:
…
(g) The General Assembly may by general law authorize any county, city, town, or regional government to impose a service charge upon the owners of a class or classes of exempt property for services provided by such governments.
(h) The General Assembly may by general law authorize the governing body of any county, city, town, or regional government to provide for a partial exemption from local real property taxation, within such restrictions and upon such conditions as may be prescribed, of real estate whose improvements, by virtue of age and use, have undergone substantial renovation, rehabilitation or replacement.
https://law.lis.virginia.gov/constitution/article10/section6/
