Virginia: Local Transient Occupancy Taxes Authorized
- Mar 12, 2015 | Gail Cole
Virginia lawmakers have approved legislation authorizing several localities to impose transient occupancy taxes.
The following measures take effect on July 1, 2015:
- SB 1240 adds both Bland and Russell Counties “to the list of counties authorized to impose a transient occupancy tax of up to five percent.” Tourism must be the sole beneficiary of “any excess over two percent.” HB 1704 also adds Bland County to that list.
- Under SB 759, the Isle of Wight County may impose a transient occupancy tax “not to exceed five percent.” As with SB 1240, “any excess over two percent shall be designated and spent solely for tourism and travel” purposes.
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