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Personal property taxes; valuation. Requires that tangible personal property employed in a trade or business, other than such property set out for different valuation in current law, shall be valued by means of a percentage or percentages of original cost to the taxpayer. Current law requires such property to be valued only by means of a percentage or percentages of original cost. The provisions of this bill do not become effective unless reenacted by the 2027 Session of the General Assembly.
Introduced
Jan 13, 2026
Last Action
Mar 3, 2026
Session
VA 2026
Sponsors
1 primary · 0 co
Continued to next session in Finance and Appropriations (15-Y 0-N)
Fiscal Impact statement From TAX (2/17/2026 4:03 pm)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed (on 1st reading)
Read third time and passed House (98-Y 0-N 0-A)
Read second time
committee amendment agreed to
Engrossed by House as amended
Read first time
House committee offered
House subcommittee offered
Reported from Finance with amendment(s) (21-Y 0-N)
Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
Fiscal Impact statement From TAX (1/21/2026 8:29 pm)
Prefiled and ordered printed; Offered 01-14-2026 26104842D
Referred to Committee on Finance
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Continued to next session in Finance and Appropriations (15-Y 0-N)
Vivian E. Watts