Blog Posts > The State Senate Property Tax Plan: A Look at the Pros and Cons
August 15, 2022

The State Senate Property Tax Plan: A Look at the Pros and Cons

The Dominion Post – Republican state Senators are hopeful that voters will approve Amendment 2 in November and set the Senate GOP tax reduction plan in motion.

Read the full article.

Four proposed amendments to the state Constitution will be on the ballot. Amendment 2 is called the Property Tax Modernization Amendment.

Its official summary of purpose is: β€œTo amend the State Constitution by providing the Legislature with authority to exempt tangible machinery and equipment personal property directly used in business activity and tangible inventory personal property directly used in business activity and personal property tax on motor vehicles from ad valorem property taxation by general law.”

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