Creates Tax Class for Energy Equipment Upgrades
Virginia · HB563 · Introduced Jan 13, 2026
Why it matters
Equipment owners could pay a different local property tax rate on energy upgrades if the bill passes. The bill's text here does not show the exact rate or who qualifies.
What it does
- Amends Virginia tax code section 58.1-3506 on local personal property taxes
- Adds a classification for major energy consumer equipment upgrades
- Keeps the bill in the Finance Committee after its last action in July 2026
Status
Latest action (2026-07-21): Continued from last session
About this bill
Would create a separate local property tax class for major energy consumer equipment upgrades in Virginia. The bill amends the tax code section that lists other personal property classes.
Personal property taxation; establishes classification for major energy consumer equipment upgrades.
Perspectives
💬 The case for
Business groups would likely say a separate class could lower taxes on energy upgrades. It would encourage companies to modernize their equipment.
💬 The case against
Local governments would likely say the change could cut tax revenue. They may also worry about shifting the tax burden to other property owners.
Sponsored by
Sponsor details for this state bill are at the source link.
News
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