HB2112: Real property taxation; land and improvement classifications.

Legislative Summary

Real property taxation; land and improvement classifications. Allows the City of Charlottesville to levy a tax on improvements to real property at a different rate than the tax imposed upon the land on which the improvement is located, provided that the tax rate is not zero and does not exceed the tax rate imposed on the land. Currently, only the Cities of Fairfax, Poquoson, Richmond, and Roanoke are allowed to tax an improvement to real property independently from the land on which it is situated.