A tight state budget could mean either higher taxes or lower service levels
Both houses of the Virginia General Assembly have introduced their budgets, as has Gov. Bob McDonnell. They're the leanest budgets anyone can remember. The Governor has vowed to veto any tax increases, arguing that the Commonwealth should cut spending rather than levy more taxes on its citizens. So to bring expenses in line with lower forecasted revenues, Virginia's state lawmakers have proposed deep cuts to programs and services.
No matter what the final budget looks like, most Virginia localities will be scrambling to raise money for education, public safety and other core services. The only alternative is to cut services. Virginia's Homeowners may be hit with either big increases in property taxes or cuts in county or city programs.
Learn what the final budget means for homeowners in the next edition of YOUR VIRGINIA. Click here to make sure you receive a copy.
House Bill 570: Putting the burden of proof on assessors, not homeowners
HB570: PASSED THE HOUSE; CARRIED OVER IN THE SENATE
Today, if an assessor overvalues your home (and raises your taxes), you have to prove he made a mistake. This bill will shift the burden of proof from the homeowner to the assessor.
Unfortunately, the Senate Finance Committee voted to carry this bill over into the 2011 session. This is a disappointing outcome for homeowners hoping for more fairness in the assessment process.
House Bill 552: Preventing local governments from changing their minds about zoning
HB552: PASSED THE HOUSE; AWAITING ACTION IN THE SENATE
Imagine having your local government approve a zoning change so you can improve your property. But after you begin work, the locality reverses its decision, and you're forced to tear down what you've done.
It can happen and it does happen. This bill will prevent that by strengthening "vested rights" laws to prevent localities from changing their decisions on zoning rulings.
House Bill 430: Increasing fairness in the real estate assessment process
HB430: PASSED THE HOUSE; AWAITING ACTION IN THE SENATE
Some more education for the people in charge of real estate appraisals can only make our system better. If this bill passes, it will require additional education for real estate assessors, and ensure that members of the board that hears your appeal have expertise in appraisal and home valuation. It will also make the appeals process friendlier for homeowners: Upon request, the assessor must disclose information about your assessment, and the homeowner's standard of proof will be lowered.
House Bill 205: Requiring insurers to pay for the complete repair
HB205: DIED IN COMMITTEE AFTER CONCERNS RAISED BY INSURERS
If your home is damaged, your property insurance will pay to fix that damage, but the repair could look very different than what's already there. This bill would have required insurers to make the repaired area blend in better with the existing structure, so your property is not only fixed, but looks like it should.
Unfortunately, this bill didn't make it out of the House, but we've learned that many insurers offer a rider to provide the type of coverage this bill sought to mandate. Contact your insurer to see if they offer it.
The Virginia Homeowners Alliance will be watching these and other bills, and will keep you up to date on what's happening.
You can read YOUR VIRGINIA newsletter six times per year and visit VAHomeownersAlliance.com every day to stay informed about state and local issues that affect your property values and homeowner rights.
The General Assembly meets for two months, but your local government meets year round. Your membership in the Virginia Homeowners Alliance keeps you informed about local real estate taxes, property assessments, new residential and commercial developments, transportation, school construction and a host of other issues affecting your home, neighborhood, and way of life.
Make sure you continue receiving the YOUR VIRGINIA newsletter: Click here to join the Virginia Homeowners Alliance now!
