Virginia § 15.2-2511.1 Return of local surplus funds

Virginia Statutes

§ 15.2-2511.1 — Return of local surplus funds

Virginia § 15.2-2511.1

Title 15.2Counties, Cities and Towns

Subtitle IIPowers of Local Government

Ch. 25Budgets, Audits and Reports

This text of Virginia § 15.2-2511.1 (Return of local surplus funds) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 15.2-2511.1 (2026).

Text

Any locality may by ordinance develop a method for returning surplus real or personal property tax revenues, or both, to taxpayers who are assessed such taxes in any fiscal year in which the locality reports a surplus. The locality may reduce a taxpayer's refund by the amount of any taxes, penalties, and interest that are due from such taxpayer, or any past-due taxes, penalties, and interest that have been assessed within the appropriate period of limitations.

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Any locality may by ordinance develop a method for returning surplus real or personal property tax revenues, or both, to taxpayers who are assessed such taxes in any fiscal year in which the locality reports a surplus. The locality may reduce a taxpayer's refund by the amount of any taxes, penalties, and interest that are due from such taxpayer, or any past-due taxes, penalties, and interest that have been assessed within the appropriate period of limitations.