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Safety Robert Suthard that there would be no construction for at least the next two years.
I also introduced SB 324 which would bring about more order and equity into the process of reassessment of a taxpayer’s primary personal residence for real estate tax purposes. The bill would require the use of the consumer price index to establish the increase in the fair market value. This would prevent radical increases in reassessments that occur many times just because one or more homes in the neighborhood sells for an exorbitant price.
Due to the complexity of this issue, and the fact that many related bills were introduced, I requested that this bill be carried over to the 1991 Session for consideration. I feel that it is unfair to tax a homeowner on unrealized paper profit on real estate that the taxpayer acquires and uses only for his or her personal residence.
Kevin G. Miller represents Rappahannock County in the Virginia Senate. The Harrisonburg Republican may be contacted now that the session is over at his home office. Write the Honorable Kevin G. Miller, 444 Ott St., Harrisonburg, VA 22801; or call (70S) 433-6553.
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