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2026 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Locke
Legislative Workgroup on Property Tax Exemptions (language only)

Item 1 #3s

Item 1 #3s

Legislative Department
General Assembly of Virginia

Language

Page 9, after line 37, insert:

"6. The Joint Subcommittee shall review the cost of mandatory property tax exemptions for disabled veterans and their spouses and make recommendations to ensure the sustainability of the exemption programs, reduce the fiscal stress these exemptions are having on local governments, and preserve localities' ability to provide local services. The review shall examine the exemptions' revenue loss, factors increasing the exemptions' revenue impact, and evaluate the fiscal implications for local governments, and consider options for state assistance to localities in mitigating the stresses on local revenues. The Subcommittee shall submit its findings and recommendations to the Governor and the Chairs of the House Appropriations and Senate Finance and Appropriations Committees no later than October 15, 2026."



Explanation

(This amendment directs the Joint Subcommittee on Tax Policy to review the existing mandatory property tax exemptions for disabled veterans and their families and make recommendations to address the loss of local revenue.)