HB 768 Commercial and industrial property; additional real property tax in certain localities.

Introduced by: Dave A. LaRock | all patrons ... notes | add to my profiles SUMMARY AS INTRODUCED: Additional real property tax on commercial and industrial property in certain localities. Authorizes counties and cities in Planning District 3, 4, 5, 6, or 7 to impose an additional real estate tax on commercial and industrial property at a rate of up to $0.10 per $100 of assessed value. Any revenue raised from such tax would be required to be used to pay for transportation costs. Under current law, only localities within the Northern Virginia Transportation Authority or the Hampton Roads metropolitan planning area are authorized to impose such tax. The bill contains technical amendments.