SD14 - Report of the Joint Subcommittee Studying Real Estate Tax Procedures and Land Use
Executive Summary: The study of real estate tax procedures was created by Senate Joint Resolution No. 59 adopted by the 1982 Session of the Virginia General Assembly. Pursuant to this directive Senators John C. Buchanan, Charles J. Colgan and William A. Truban were appointed from the Senate Finance Committee and Delegates C. Richard Cranwell, Raymond R. Guest, A. Ray Hull, and Warren G. Stambaugh were appointed from the House Finance Committee. At its first meeting the joint subcommittee unanimously selected Senator John C. Buchanan as Chairman and Delegate Raymond R. "Andy" Guest, Jr., as Vice-Chairman. In addition, the joint subcommittee requested Senator Eva F. Scott, the patron of the study resolution, to sit with the joint subcommittee at its meetings. The joint subcommittee examined in the course of two public hearings and five regular meetings the entire area of the administration of the real estate tax including the valuation process, the training of assessment personnel, the definition of fair market value, appeal mechanisms and the role of the local board of equalization. In addition, the joint subcommittee explored issues in the land use area and discovered that a Senate study of land use taxation issues had been established pursuant to Senate Resolution No. 28 which was introduced by Senator Colgan. The joint subcommittee invited this subcommittee which consisted of Senator Colgan and Senators Howard P. Anderson and Richard J. Holland to meet with the real estate administration joint subcommittee since both groups were charged with examining land use taxation issues. |
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