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Virginia · 2026 Regular Session · Bill

HB 68: Real property; effect on rate when assessment results in tax increase, consideration of inflation.

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

HB 68 is a bill introduced in the Virginia House on December 30, 2025. According to its official title, it concerns: Real property; effect on rate when assessment results in tax increase, consideration of inflation. Primary sponsor: Joe McNamara (Republican). Most recent recorded action (January 28, 2026): Continued to next session in Finance.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Local taxation of real property; effect on rate when assessment results in tax increase; consideration of inflation. Provides that, in determining a locality's total real property tax levies for purposes of determining the rate of levy that the locality shall impose upon such properties in order to produce no more than 101 percent of the previous year's real property tax levies, such real property assessed value shall be reduced by the greater of (i) the change in the United States Average Consumer Price Index for all items, all urban consumers (CPI-U), as published by the Bureau of Labor Statistics for the U.S. Department of Labor, since the fiscal year of the last assessment or (ii) zero.

Sponsors

Sponsors by party (alphabetical): Republican 1

NameRolePartyChamberDistrict
Joe McNamaraPrimary sponsorRepublicanHouse40

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Continued to next session in Finance
  2. Subcommittee recommends continuing to (Voice Vote)
  3. House subcommittee offered
  4. House subcommittee offered
  5. Fiscal Impact statement From TAX (1/18/2026 4:49 pm)
  6. Assigned HFIN sub: Subcommittee #2
  7. Referred to Committee on Finance
  8. Prefiled and ordered printed; Offered 01-14-2026 26101665D

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source