March 7, 2007
Over the last several years, in each and every county in the region, we have seen real estate assessments skyrocket. In an effort to address that issue I introduced legislation this year that would change Virginia’s constitution to no longer require that local government reassess your home every year.
Under my proposal the value of your home would be changed only upon selling that real estate. This would mean that your taxes would not rise simply because other homes around have sold for more. Many people have bought their home and have seen inflation and run away real estate assessments drive taxes to the point that they can not afford to stay in their home nor can they afford to buy another home. This scenario clearly puts them between a rock and a hard place.
My proposal was not the only proposed constitutional change offered to address this issue of real estate assessment. There were at least a half dozen others offered in the Senate alone. Therefore the P. & E. Committee had to determine which proposal could receive the votes needed to make it from committee to the Senate floor and be successful.
The outcome of the committee’s work, as with most compromises, was not nearly as
aggressive as I, or others, would have liked to see. However it at least attempts to try to address the issue of run away assessments.
The final bill that was approved not only in the Senate but also in the House was that of my seatmate Senator Nick Rarass of Norfolk. His proposal would allow a locality to grant a discount of up to 20 percent from the assessed value of their homestead.
Again this is not nearly as much as I had hoped for nor does it protect farmland but at least it will assist families should it be passed again next year and you the voters approve it at the polls in November of 2008.
Please feel free to contact Senator Ruff with questions or comments at 804-698-7515 or by emailing us. Writing is also an option at P.O. Box 396 Richmond, VA 23219.