Nick Rerras In The News

House OKs proposal to give homeowners real estate tax break
February 23, 2007 – The Virginian-Pilot

By HARRY MINIUM

RICHMOND - The House of Delegates voted 97-0, without debate, to approve a constitutional amendment that if enacted would provide most homeowners in Virginia a 20 percent break on their real estate taxes.

SJ354, sponsored by Sen. Nick Rerras, R-Norfolk, would allow cities and counties to forgive as much as 20 percent of the real estate taxes paid by homeowners on their primary home.

"This amendment will help homeowners across the state," said Del. John Cosgrove, R-Chesapeake, who introduced the bill in the House.

The proposed amendment, which passed the Senate

38-1 two weeks ago, must pass both houses of the General Assembly again next year, then be approved by voters in a November 2008 referendum.

Opponents, including business interests, say it is not fair to reduce taxes on residential real estate and not commercial real estate.

Although the signature of Gov. Timothy M. Kaine isn't required, Kaine has endorsed the concept and worked with Rerras on the bill.

Norfolk city leaders supported the bill and paid for a bus full of city taxpayers and city officials to attend a committee meeting last week as a show of support for the legislation.

"We owe a lot to Sen. Rerras," Norfolk Mayor Paul Fraim said.