HB68Introduced in the House of Delegates
Real property; effect on rate when assessment results in tax increase, consideration of inflation.
Introduced by Joseph McNamara, District 40
What does this bill do?
Plain-English breakdown
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Official description
Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.
Where it stands
Continued to next session in Finance
January 28, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Prefiled and ordered printed; Offered 01-14-2026 26101665D
Referred to Committee on Finance
Assigned HFIN sub: Subcommittee #2
Fiscal Impact statement From TAX (1/18/2026 4:49 pm)
House subcommittee offered
House subcommittee offered
Subcommittee recommends continuing to (Voice Vote)
Continued to next session in Finance
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