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VA HB753
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Chris Runion
Click for details
AI Summary
- Requires Virginia's composite index of local ability-to-pay for public school funding to use the agricultural "use value" rather than fair market value for qualifying real estate
- Applies to land devoted to agricultural, horticultural, forest, and open-space uses in localities that have adopted use-value taxation ordinances
- Extends the use-value calculation to real estate in agricultural districts, forestal districts, and agricultural and forestal districts established under state law
- Would lower the assessed property values used to calculate local wealth, potentially increasing state funding shares for rural localities with significant farmland and forestland
- Adds new section 22.1-98.3 to the Code of Virginia; introduced January 14, 2026 by Delegate Runion
Legislative Description
Public school funding; composite index of local ability-to-pay.
Last Action
Left in Education
2/18/2026
Committee Referrals
Education2/18/2026
Education: K-121/30/2026
Education1/13/2026
Full Bill Text
No bill text available