State Senator Petersen's Bill on Property Tax Advertising Approved by House Committee

FROM THE OFFICE OF STATE SENATOR PATERSEN

March 1, 2010

CONTACT: Julia Kim
804-698-7534

Richmond, Virginia - March 1, 2010 - Sen. Chap Petersen's bill reducing the amount of advance notice of a locality's public hearing of a real property tax increase, Senate Bill 121, was approved (19-3) by the Virginia House of Delegates' Committee on Finance on Monday.

A locality must currently advertise its proposed property tax rate at least thirty days prior to setting the rate. SB 121 reduces the amount of time that a locality must advertise its property tax rates from 30 days to 14 days.

"Reducing the amount of time that local governments must advertise their property tax rate increases flexibility in a time of government cost-cutting," said Petersen. "Two weeks is still more than sufficient notice in this age of the Internet."

The House of Delegates will vote on SB 121, requested by the City of Fairfax and endorsed by the Virginia Municipal League, in the coming weeks.

Sen. Chap Petersen serves Virginia's 34th State Senate district, which includes Fairfax City and much of Fairfax County.

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